Why the token currency issued by Muhammad Bin Tughlaq ended in a disaster?
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As good money was driven out of circulation, the token coins became practically valueless, leading to hyperinflation. Foreign traders also refused to accept them, paralysing trade. Realising that his scheme had failed, Tughlaq withdrew the currency in an attempt to stem the economic chaos.
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1
Answer:
As good money was driven out of circulation, the token coins became practically valueless, leading to hyperinflation. Foreign traders also refused to accept them, paralysing trade. Realising that his scheme had failed, Tughlaq withdrew the currency in an attempt to stem the economic chaos.
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