Question

Who were the two mediums of exchange in the later vedic

Answer 1

Answer:

Niska and hiranyapinda, perhaps, were two types I of metallic medium of exchange prevalent in Vedic India. Rigvedic niskas and hiranyapindas, in this period, stood as a link between the money and currency stages of the development of the economy.

The later Vedic Samhitas and the Brahmanas refer to satamana and panda as the two other denominations of metallic medium of ex­change. The Vedic metallic medium of exchange was perhaps minted by the state. But later on, it seems that private business took the initiative and began to mint coins for meeting the day-to-day requirements.