On which basis rbi will print currency.

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Raju (Querist)
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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....

Nikhil Kaushik

Nikhil Kaushik (Expert)
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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.

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