The rupee is widely accepted as a medium of exchange. explain in 5 points.

The currency is authorized by the government of the country. In India, the Reserve Bank of India issues currency notes on behalf of the central government. As per Indian law, no other individual or organization is allowed to issue currency. The Law legalizes the use of rupee as a medium of payment that cannot be refused in settling transactions in India. Hence the rupee is widely accepted as a medium of exchange.