Why did introduction of token currency by muhammad bin tughlaq fail?
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Answered by
45
This is the introduction of the topic token currency.
Mohammed Bin Tughlaq introduced the token currency because there was a shortage of silver at that time so he decided to issue copper coins which would have the same value as that of silver and gold coins.
And here is your answer that why it was a failure:
As gold and silver was more valuable people started illegal minting all the token coins which the government was unable to control and thus the government finally decided to take back the token coins and in exchange give silver coins to people and thus, they suffered a heavy financial loss.
PLEASE PLEASE MARK AS BRAINLIAST
Mohammed Bin Tughlaq introduced the token currency because there was a shortage of silver at that time so he decided to issue copper coins which would have the same value as that of silver and gold coins.
And here is your answer that why it was a failure:
As gold and silver was more valuable people started illegal minting all the token coins which the government was unable to control and thus the government finally decided to take back the token coins and in exchange give silver coins to people and thus, they suffered a heavy financial loss.
PLEASE PLEASE MARK AS BRAINLIAST
Answered by
15
hey friend
______________
short answer-
He started the token currency concept for trading activities.Since there was not proper checking,it ended up in fraud.
______________
short answer-
He started the token currency concept for trading activities.Since there was not proper checking,it ended up in fraud.
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