A) the scarcity of silver for minting the silver Taka was over
B) Merchants refused to accept the token currency
C) extensive counterfeiting of token currency
D) foreign trade suffered badly
Correct Answer: C
Solution :
Mohammed-bin-Tughlaq's experiment with token currency didn't work because very few people exchanged their gold or silver coins for the new copper ones. Moreover, the tokens were easy to forge, which led to heavy losses, as Tughluq subsequently withdrew the forged currency by exchanging it for bullion coins. This drained the treasury because he had to compensate the losers.
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