On which basis rbi will print currency.
This query is : Resolved
17 June 2014
hi friends ,
On which Basis RBI will print currency.as i know on basis of gold with country that much currency it should print.... whether it right? i have little bit confusion....
On which Basis RBI will print currency.as i know on basis of gold with country that much currency it should print.... whether it right? i have little bit confusion....
Nikhil Kaushik
(Expert)
18 June 2014
gold is no more the basis of printing currency across the world. since the nixon's decision to give up the gold standard, slowly gold has lost its sheen has a basis of currency usage.
today the quantum of banknotes to be printed, broadly depends on the requirement for meeting the demand for banknotes, GDP growth, replacement of soiled banknotes, reserve stock requirements, etc. Gold no more plays any role.
today the quantum of banknotes to be printed, broadly depends on the requirement for meeting the demand for banknotes, GDP growth, replacement of soiled banknotes, reserve stock requirements, etc. Gold no more plays any role.
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