Write any two causes for the failure of the token currency introduced by Muhammad bin Tughlaq.
Answers
Answer:
People started making copper coins at their homes and fake coins were circulated into the market. The traders refused to accept the coins and the economy collapse. Later, Tughlaq had to exchange these copper coins with genuine gold and silver coins which further depleted the royal treasury.
Explanation:
HoPe It HeLp'S UHh ☺
❤APpY TeDdY DaY ❤
PlS Flw me ☹
Give me thnks ☹
✌ITZ AbUsiNg QuEeN ✌
The failure of his projects emptied Muhammad Bin Tughlaq's treasury.So,he decided to of issuing token currency of copper instead of silver. However,
•Traders refused to accept the coins.
•Due to increased circulation of counterfeit coins,he had to withdraw his orders and asked the people to exchange their copper coins with genuine silver and gold coins.
•This resulted in heavy loss to the royal treasury.
Know what it is-
Token currency is a coin in which the face value of the coin is much higher than its metallic value.