Why was money different in various parts of the world?

Supposing you went to a remote area  in interior Africa and wanted to buy some food from a tribal. If you offer to pay for it in rupees, he will probably refuse. Do

you know why; It is because the rupee may have value in India, but it has no value for him. He cannot buy anything with it, and so as far as he is concerned, it is not

money-merely a piece of printed paper. On the other hand, if you offer to give him some salt, he will happily give you food in return. This is because salt is valuable

to him.
So, you see that you cannot make money by just printing paper or minting coins. Anything that is used as money should be valuable enough to get goods or services in

return. That is why throughout history, different part of the world have had different forms of money at different times.
At one time, cattle were valuable, and, so, cattle were equivalent to money. Later, grain and salt were much in demand, and so, they become a form of money.
Coins and paper  money came much later, and even then, each nation still prefers to mint its own coin and print its own pape
r money. Maybe, one day there will be just
one currency for the whole world, but right now, that day still seems far off.





NOTE:-When was the Algerian dinar  introduced

The dinar was introduced in 1964, replacing the Algerian new France. It is subdivided into 100 Santeria. The first series of banknotes consisted of 5, 10, 50 and 100
dinar denominations.

Why Where There So Many Varieties Of Coins In India Before The British?

With the death of the last Mughal Emperor the empire become week. The governors of the emperor seized the lands that they were administering for the Mughal and declared themselves to be new rulers. at the same time many military leaders began to curve out kingdoms for themselves by force. by the time the British took control of india there were over a hundred princely states. the new rulers gradually replace the Mughal in script-ions. in other parts of India also like the Deccan and southern states. different monetary system and issued independent coins. So we see that the princely states of pre-colonial India minted there own coins, all of this resembled the silver rupee, but had small variations from region to region. as a result hundreds of  new varieties of coins were in use in India when the British arrived here. 

Why do we say the Mahatma Gandhi series of Banknotes has special features?

the mahatma Gandhian series of banknotes bearing the portrait of mahatma Gandhi's has several special features that make it difficult for any one to copy or counterfeit them. if you hold a bank note up to the light, you will see that it contains the mahatma Gandhi watermark, whit a light and shade effect, and multi-directional lines in the watermark wind. you will also note a security thread that appears as one continuous line. half the numeral of each denomination is printed on one side, and half on the other, though they will appear as one continuous number when held against the light. this is called see-through registration.
the ink used is optically variable,which means that it appears green when the note is held flat, but blue when it is held at an angle. the number panels are also fluorescent. the portrait of mahatma Gandhi, the reserve bank seal,the guarantee and promise clause, the Asoka pillar emblem on the left, and the reserve bank of India governor's signature are printed in intaglio or in raised print, which can be felt be by touch. this will help blind persons to identify the bank note.

Did You Know How do banks work Ever Were?

What will you do if your uncle gives you Rs 1,000 for your birthday; You do not want to lose it  or have it stolen, so you deposit it in a bank. The bank opens an account in your name. When you deposit your money goes into a big pool of money along with everyone else's. You will be given a passbook that shows how much money you have in the bank, and a quench book with which you can withdraw money.

At other times, people may need money for something, but do not have enough of it to meet their needs. So, they go to the bank and borrow the money. They must pay the bank for this service, and this is known as paying interest on a loan.       

The New 10 Rupee Coin In The India!

The reserve bank of India has related India first ever bimetallic coin of the denomination rs. Ten One side of the coin has he loin symbol with the numeral 10 and the year of manufacture. on the reverse side a double line cross and the denomination written in Hindi and English. the metal on the outer side is nickel-bronze and he inner side is ferrous steel. the wight of the coin is about 8 grams, and the diameter 27mm.

What is the British currency

The British currency is the pound sterling generally known as the pound. one pound is made up 100 pence. the the singular of pence is penny. The symbol for the penny is "p". therefore an amount such as 50p is often pronounced fifty pee rather than fifty pence.

do you know Where are Dollars found?

the dollar is the currency of money countries, including united states, Fiji, Australia,Bahamas, Barbados, Belize,Brunei, Canada,

Ecuador, Guyana, new Zealand, Hong Kong, Zimbabwe, Singapore, Taiwan, and Jamaica. however, each country has its own dollar, and

the us dollar is quite different from say, the Singapore dollar. the us dollar is the currency of the united states, and it is

divided into 100 cents.

it is the currency of the united states have you see an american dollar;

have you see an american dollar; it is the currency of the united states, and its history is a story involving many countries in different continents. the word 'dollar' is much older than the us unit of currency. it originated from the german word'thaler' which was the name given to coins first minted in 1519 from locally mined silver in the joahimsthal mint in bohemia. later on, the english version of the name dollar was also aplied to similar coins, not only ones minted in central europe, but also the spanish peso, and the portuguese currency.
those coins, paticularly the spanish peso or dollar circulated widely in britain's north american colonies because of a shortage of official british coins. that is why, after the us gained its independence, the new nation chose'dollar' as the name of its currency, instead of keeping the pound. the coinage act of 1792 made the dollar, the basic unit of moneyy in the us. the first silver dollar was minted in 1794, and in 1900, the gold dollar was made the standard. however, the gold dollar is no longer circulated.
paper dollars were printed as early as 1775. both paper dollars and coins are issued by the department of treasury of the us.

You know what is a History of the Indian Rupees?

according to some historians, sheer shah sure
introduced the Indian currency or rupee in

the 16th century. attainment, 40 copper coins
equaled one rupee. the dominance of the mughals
over India started diminishing when the British
arrived in the count. in the turmoil that accompanied
the arrivalof the british,local bankers lost their
importance to 'agency houses' that enjoyed state
patronage. one such agency house that enjoyed state patronage such agency house established the Bank of Hindustan that issued the earliest rupee notes in the year 1770. The was followed by some more issues of the Bank notes by private banks. for 100 add years,the issue of bank notes by the private bank continued. In 1861 the paper currency Act was passed the issued of note was now the sole right of the government of Brities India.
the first series of note that wassuedbythe government of British India was the Victoria portrait series. the need to issue notes of small denominations arose with the beginning of the world war i,and the rupee 1 note was issued for the first time.
in 1923,the king's portrait series was issued. these notes continued to be used till 1935. the reserve bank of india then took over the authority to print and circulate banknotes from the government of india.
currency notes with the portrait of George vi were in circulation till 1947 when India become independent. after that, the India rupee was adopted as a sale currency of the  country, and the use of all other domestic coinage was put to an end. the country adopted the decimalization standards in the year 1957. the currency mahatma Gandhi's portrait series was introduced in the year 1996.