However, the worldwide demand for the currency also impacts the value of the currency. Hence if the money needs to be called money, it should represent the value of the goods.Īnd all the conditions are fulfilled by the Indian rupee and US dollar both the currencies are worldwide recognized. It should represent the value of tangible goods or the economic item available for sale.
#Us dollar vs indian rupee free
The people should feel free to use for the exchange as we use Indian rupee to buy things like gold and other things. It is one of the essential criteria by which the legal tender becomes the currency or money. Moreover, the money can be stored in various places, such as in a piggy bank or a physical bank for wealth creation. Can Be StoredĪnother feature of money is that it can be stored, and its value remains the same as in the current market. And also, the seller feels free to accept the deal and consider the transaction for exchange. When we need to buy some services or products, we use our Indian rupee without any restriction. The first criteria say the currency should be widely accepted in the nation as the Indian rupee. It’s Widely Accepted Without Any Condition But what makes legal tender money, so to learn this, read the below-mentioned criteria. On the other hand, the US dollar is the currency of the USA, and most of the countries use the US dollar for trading. The Indian rupee is the national currency of India and is also accepted internationally.
Indian rupee and US dollar both are legal tenders that are considered as currencies. Thus, stay with us if you want to learn why the US dollar is more powerful than the Indian rupee. Do you wish to know why dollar is higher than rupee? It is one of the widely asked questions by most people.
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