The Mughal rulers had established mints at different places throughout the empire.
Mughal currency history:When Babur laid the foundation of Mughal rule in India, the currency here also affected the new regime. By the way, before the Mughal rule in India, many types of currency were in vogue. There was a currency of different dynasties in them. Apart from this, silver and copper coins were also run in the country since the sixth century BC, which are called Karshapana or Pan.
After the arrival of the Mughals in India, there was a change in the currency. Let us know how the Mughals were currency? Where was it made, how much was the value, when did the currency of the Mughals end?
The history of currency in India is quite old. The history of coins is available from the sixth century BC. According to historians, the first coins were prepared during the time of Mahajanapadas. The coins were then made of a standard weight. However, their size was irregular and different marks were found on them. For example, a hump bull in Saurashtra and the swastika sign in South Panchal were found on coins.
Maurya Emperor Chandragupta Maurya first started coins with gold, silver, copper and lead. When the Turk rule started in Delhi, the Sultans began to replace the designs of coins of Indian kings with Islamic calligraphy.
A new monetary system developed after the Mughal rule began in 1526 AD. Especially from 16th to 18th century, this policy played an important role in furthering the trade and administrative activities of the Mughal Empire. Also, the currency was standardized. Especially the silver rupee started by Sher Shah Suri was adopted by the Mughals and standardized it.
The silver rupee was started by Sher Shah. Photo: Google Arts & Culture
After defeating Babur's son Humayun, Sher Shah Suri issued a silver coin of 178 grams. This was known as Rupee. These coins remained in different forms from the Mughal period to the British rule. By the way, Babur started using a thin piece of silver as a coin, which was called Shahkhi Sikka.
By the way, apart from silver coins, copper and gold coins were also started in the time of Mughals. Copper coins were called prices, which was a currency of common people. They were used for small transactions in local markets. They had different weight and value in different parts of the empire. However, there was an effort to maintain standardization of these coins.
Later, Akbar and his successors refined this coin even more but its weight remained about 11.5 grams. Gold coins were the highest price currency during the Mughal rule. They were called stamps. They were used for heavy transactions, gifts and wealth collections of the rich.
After the death of Sher Shah Suri, Humayun again gained power and then son Akbar sat on the throne. Akbar molded the currency in better form. The pieces of gold looted by the Mughals started to be made. Akbar also started gold coins for the promotion of the new religious creed Deen-Ilahi, which was called Ilahi Sikka. Then Shah Jahan issued many coins during his reign. Standards for design of these coins were also fixed.
The currency of the reign of Akbar (first) and Farrukhsiyar (second). Photo: Reserve Bank of India
Mughals also started using these coins in international trade. The design of coins changed again during Aurangzeb's time. He first removed the Kalma written on coins. Also again set the standards of coins. It was Aurangzeb who started a new trend and the name of the emperor, the name of the mint and the date of release of it were also written on the coins.
The currency of Aurangzeb's reign. Photo: Reserve Bank of India
The Mughal rulers had established mint at different places in the entire empire for the casting of different coins. Over time, the value of these coins used to change. For example, when the price was started, the price of 48 prices was equal to one rupee. In the 1580s, 38 prices were equal to one rupee. By the 17th century, the price of the price had increased even more.
In the time of the Mughals, the British came to India for trade and then gradually captured the entire country. Along with the collapse of Mughal rule, their currency also started collapsing. After the revolution of 1857, the British rule made the rupee the official currency of British India. The earlier country designs on coins were replaced. Then in the 19th century, British rule started paper currency in India.
