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Gold mohur of Akbar. Mughal currency was coinage produced and used within the Mughal empire.. Despite India having significant gold reserves, the Mughal coins were produced primarily from imported bullion, as a result of the empire's strong export-driven economy, with global demand for Indian agricultural and industrial products drawing a steady stream of precious metals into India.
The Mohur is a gold coin that was formerly minted by several governments, including British India and some of the princely states which existed alongside it, the Mughal Empire, Maratha Empire, Kingdom of Nepal, and Persia (chiefly Afghanistan). It was usually equivalent in value to fifteen silver rupees.
Tye suggests that variable coin weight may have been a deliberate strategy to destabilize markets to reduce peasants to subsistence levels, pushing them into serfdom. Elites could still make large payments in coin by weighing them, using scales, an option unavailable to peasants making small purchases, driving them into the hands of middlemen. [88]
Panini uses the term rūpa to mean a piece of precious metal (typically silver) used as a coin, and a rūpya to mean a stamped piece of metal, a coin in the modern sense. [18] The term rūpya continues into the modern usage as the rupee. Ratti based measurement is the oldest measurement system in the Indian subcontinent.
The coin was first introduced by Sher Shah Suri during his rule of India between 1540 and 1545, along with Mohur, the gold coin and Rupiya the silver coin. [1] Later on, the Mughal Emperors standardised the coin along with other silver and gold coins in order to consolidate the monetary system across India. A rupee was divided into 40 dams.
The coins were issued in both round and square shapes, including a unique 'mehrab' (lozenge) shaped coin. [101] Akbar's portrait type gold coin (Mohur) is generally attributed to his son, Prince Salim (later Emperor Jahangir), who had rebelled and then sought reconciliation by minting and presenting his father with gold Mohurs bearing Akbar's ...
The Mughal Empire was an early modern empire in South Asia. At its peak, the empire stretched from the outer fringes of the Indus River Basin in the west, northern Afghanistan in the northwest, and Kashmir in the north, to the highlands of present-day Assam and Bangladesh in the east, and the uplands of the Deccan Plateau in South India.
The coins of Bengal were developed in the Mughal style and those of Madras mostly in a South Indian style. The English coins of Western India developed along Mughal as well as English patterns. It was only in AD 1717 that the British obtained permission from the Emperor Farrukh Siyar to coin Mughal money at the Bombay mint. The British gold ...
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