• Another step which Muhammad-Bin-Tughlaq took at this time was the introduction of the ‘token currency’. Since money is merely a medium of exchange, all countries in the world today have token currencies —generally paper currency, so that they do not have to depend upon the supply of gold and silver. There was a shortage of silver in the world in the fourteenth century.

• Moreover, Qublai Khan of China had already successfully experimented with a token currency. A Mongol ruler of Iran, Ghazan Khan, had also experimented with it. Muhammad Tughlaq decided to introduce a bronze coin which was to have the same value as the silver tanka. Specimen of this coin has been found in different parts of India, and can be seen in museums. The idea of a token currency was a new one in India and it was difficult to induce the traders, as well as the common man to accept it.