Traders from India are eager to do business with Nepal because the trader from India gets more Nepalese currency for one Indian rupee. When India did demonetisation in 2016, Indian notes worth about Rs 9.48 billion were being used there. Nepal has banned Indian notes of denomination above Rs 100 from December 2018 but notes of less than Rs 200 are being accepted fearlessly. Nepal is such a country that it will not be wrong if it is called an integral part of India. In addition to the SK, it now uses the US dollar, Australian dollar, Chinese yuan, Indian rupee, Japanese yen, South African rand and British pound. The symbol of Indian Rupee typifies Indias international identity for money transactions and economic strength. Rupee has been the legal currency of Zimbabwe since 2014. In 2009, the South African country abandoned its local currency, the Zimbabwean dollar, and declared the Indian rupee as its legal tender money. Through this article you will know which countries of the world accept Indian currency i.e. Partial currency substitution occurs when residents of a country agree to hold a significant portion of their financial assets in foreign currency. It can be used if you are traveling, to remit money from abroad or. Some smaller economies, for which it is not possible to maintain an independent currency, use the currencies of their larger neighbors and this process may be called full currency substitution. The Goodreturns.in currency converter is an excellent tool to convert currency from one exchange to another. Currency substitution can be full or partial. The process of using a foreign currency in parallel with or instead of a domestic currency is called currency substitution.
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