(A) Representative Paper Money, (B) Convertible Paper Money, (C) Inconvertible Paper Money And (D) Fiat Money.
Fiat, commodity, representative, fiduciary, and commercial bank money. Paper money are the money which are issued by the central bank of a country in form of paper that acts as an unlimited legal tender in the economy. There are three kinds of paper money:
That Means That Anything Can Technically Be Considered Money, But The Most Accepted Kind Today Comes In The Form Of Paper, Coins (Metallic Money), And Credits (Backed By Banks).
There are many different types of obsolete notes and not all possess the same characteristics. There are following types of paper money: It is the paper money issued against the reserve of gold equal to the paper money issued.
Of All Accepted Mediums Of Exchange, Shares Are Closest To Paper Money Because They Can Be Exchanged On The Open Market For Cash.
It is the type of money whose value as money is equivalent to its value as a commodity. A banknote —also called a bill ( north american english ), paper money, or simply a note —is a type of negotiable promissory note, made by a bank or other licensed authority, payable to the bearer on demand. It is also known a fiat money, this money is sanctioned on the command of government.
It Consists Of Currency Notes Issued By The Government Or The Central Bank Of A Country.
The types of money circulated in an economy are as follows: It is also called convertible paper money. (or maybe they are notes as they are listed in the standard catalog of world paper money as p96p & p96i).
This Type Of Money Is Issued By Keeping Metallic Reserve Of.
Value as money is much more than the value as a commodity. In india, one rupee notes are issued by the ministry of finance of the government of india, and all other currency notes of higher denominations are issued by the reserve bank of india. (b) convertible paper money, which can be converted into standard coins at the option of the holder.