Best Answer


User Avatar

Wiki User

โˆ™ 2012-12-12 18:04:43
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What is Indian currency issue backed by?
Write your answer...
Related questions

Is Australian currency backed by gold?

No - the Australian dollar is a fiat currency.

What is the Indian currency?

Indian currency is Rupee (Re).

List of currency of world comparing to Indian currency?

singapore currency camparing with indian rupees

Which countries have currency backed by precious metals?


Is the Swiss frank backed by gold?

The Swiss Frank is not backed by Gold, nor is any Fiat currency.

Billion in Indian currency?

one billion in Indian currency is 100 crores

When was Indian currency last demonetised?

Indian currency was demonetised in 1966 and 1991

What is the name of paper money that was not backed by gold?

Floating currency.

What currency is Rs?

Rs is Indian Currency

What is the amount of currency in India?

indian currency

What is the national currency of India?

India's currency is the Indian Rupee.Indian Rupees or INRIndian Rupees or INR.

What is the difference between a fiat currency and a gold-backed currency?

Fiat currency is based on faith that it is worth something, much like an IOU. If the authority printing that currency has good credit, the currency will be worth more, and the opposite is true, as well. Gold-backed currency is just that: currency which represents the exact value of gold printed on it. So, a $1 treasury note = $1 in gold. Traditionally, with a gold-backed currency, you, the holder of that note, would be able to go down to your local bank and exchange that note for the same amount of gold. In short, with a fiat currency, everyone agrees that it's worth that amount, and it is subject to national credit ratings. With a metal-standard currency, the currency is based on the price and value of a particular metal, like gold. There are currently no gold-backed currencies. Every currency in the world is a fiat currency.

Whats the currency of Wales?

The currency of Wales is the pound sterling. Commonly called the pound, the pound sterling was once backed by silver and gold, but is now only backed by the economy of the areas where it is used.

How currency get value?

Governments issue currency, and if you trust the government, you will trust its currency.

Which country legally accept Indian currency?

My guess, Nepal is legally accept indian currency.

What kind of money did people use in 1713?

currency backed by gold

Which of the following is true about the currency printed by the Articles of Confederation government?

it was not backed by gold silver or landIt was not backed by gold, silver, or land.

Why did populists want the US to move from a currency backed by gold to one backed by gold and silver?

It would increase the supply of money.

What is the value of kuwaiti dinar currency in Indian rupee?

What is the value of kuwaiti dinar currency in indian rupee?

Who has introduced leather currency in Indian history?

Kutubdin Aibak introduced leather currency in Indian history.

What is the value of 500000 jugoslavija Dinara currency in Indian rupee?

5000jugoslavija dinara currency in indian rupee

What is the Indian currancy?

The currency of India is the Indian rupee.

What is the full form of inr in currency?

Indian national currency

What currency has the highest value against Indian Currency?


Why did populists want the US to move from a currency backed by gold to one backed by both gold and silver?

It would increase the supply of money.