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One of my friends told me about a movie, but I don't remember the title. In the movie, everyone wears a wrist-watch and time is used as currency. When you get some work done, your time increases. When your time is consumed, you die. He explained that it was a futuristic movie. Could you identify this movie?

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What you are describing fits the 2011 movie "In Time" with Justin Timberlake:

IMDB link

In a future where people stop aging at 25, but are engineered to live only one more year, having the means to buy your way out of the situation is a shot at immortal youth. Here, Will Salas finds himself accused of murder and on the run with a hostage - a connection that becomes an important part of the way against the system.

Everyone has a clock on their arm, when it runs out they die. They get payed in time and pay with time for anything, just as you describe.

Here is the trailer for the movie on Youtube, for you to verify this is the correct movie:

The movie also has a lot of puns about time, one could even say too many.

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