Question

Describe in brief Tughluq's policy of 'token' currency.

Answer 1

Tughluq did not control prices of the goods. Instead, he used a token currency, made out of cheap metals, and not of gold and silver. People in the $14th$ century did not believe in these coins. They saved their gold and silver coins and paid all their taxes to the state with this token currency. This cheap currency could be counterfeited easily.