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“Focuses of currency have undergone several changes since early times”. Elucidate. |
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Answer» Before the introduction of coins, a variety of objects was used as money. (i) For example, since the very early ages, Indians used grains and cattle as money. (ii) Thereafter, cause the use of metallic coins — gold, silver, copper coins — a phase which continued well into the last century. (iii) Modern forms of money include currency — paper notes and coins. (iv) Modern currency is not made of precious metal, it is without any use of its own. |
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