Question

Introduction of token currency led the market to be flooded with counterfeit coins.

Answer 1

Muhammad bin Tughlaq introduced token currency for all economic transactions. Bronze coins called tanka soon replaced silver coins. However, this reform proved to be a failure. People started forging bronze coins. Silver coins started to be gathered by people and thus its circulation stopped in no time. The market was flooded with counterfeit coins. To deal with the crisis, the ruler had to bring the policy to a quick halt.