Context
In India's informal economy, Gresham's Law is relevant because fake money and low-quality coins often mix with real currency, affecting the overall value of money in circulation.
About
What is Gresham’s law?
Gresham’s law is named after English financier Thomas Gresham who advised the English monarchy on financial matters. |
The law, named after English financier Thomas Gresham, came into play most recently during the economic crisis in Sri Lanka last year, during which the Central Bank of Sri Lanka fixed the exchange rate between the Sri Lankan rupee and the U.S. dollar. |
Example
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