: Governments in North America and India (late 18th century) used paper currency to facilitate trade and taxation. III. Security and Manufacturing
: Sweden's Stockholms Banco issued the first European banknotes in 1661. paper currency
: Creates a tactile feel that is difficult to replicate. Microprinting : Tiny text visible only under magnification. : Governments in North America and India (late
: Paper money is an official national currency regulated by central banks. paper currency
: While modern banknotes like the US dollar are fiat money (having no intrinsic value), they serve as the primary medium of exchange in many economies.