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________ is the second-largest single currency in the world, which is the second most traded currency as well.
A) Dollars
B) Euro
C) Rupay
D) None of above

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Last updated date: 22nd Jul 2024
Total views: 347.7k
Views today: 4.47k
Answer
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Hint: Currency is a form of payment that can be used to buy and sell goods and services. In brief, the currency is generally in the form of paper or coins, distributed by a government and widely recognised as a form of payment at face value.

Complete answer:
Let us look into the given options:
A) Dollars: Despite trillions of dollars in international debt and ongoing high deficit spending, the US continues to control global trust and interest in its capacity to meet its obligations. As a result, the US dollar remains the world's most strong currency and largest single currency. Hence, this is not the correct answer.

B) Euro: Behind the United States dollar, the Euro has become the second most traded currency. It is also the second largest single currency in the world after the United States Dollars. Hence, this is the correct answer.

C) Rupay: The Indian rupee is the country's official currency. It is not included among the top 5 most significant single currencies in the world. Hence, this is not the correct answer.

D) None of the above: Since Euro is the correct answer, "none of the above" cannot be the correct answer.

Euro is the second largest single currency in the world, which is the second most traded and reserve currency as well. Therefore, the correct option is (B) Euro.

Note: Currency is important because the exchange rate, or the price of one currency in terms of another, influences a country's financial stability and, as a result, the well-being of the people living in the country.