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Coinage

A silver rupee coin made during the reign of the Mughal Emperor Alamgir II.
The Mughals adopted and standardized the rupee (rupiya, or silver) and dam (copper) currencies introduced by Sur Emperor Sher Shah Suriduring his brief rule. The currency was initially 48 dams to a single rupee in the beginning of Akbar’s reign, before it later became 38 dams to a rupee in the 1580s, with the dam’s value rising further in the 17th century as a result of new industrial uses for copper, such as in bronze cannons and brass utensils. The dam was initially the most common coin in Akbar’s time, before being replaced by the rupee as the most common coin in succeeding reigns. The dam’s value was later worth 30 to a rupee towards the end of Jahangir’s reign, and then 16 to a rupee by the 1660s. The Mughals minted coins with high purity, never dropping below 96%, and without debasement until the 1720s.
Despite India having its own stocks of gold and silver, the Mughals produced minimal gold of their own, but mostly minted coins 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. Around 80% of Mughal India’s imports were bullion, mostly silver, with major sources of imported bullion including the New World and Japan, which in turn imported large quantities of textiles and silk from the Bengal Subah province.

  • Michelle Reply
    3 months ago

    coinage [koi-nij] EXAMPLES | WORD ORIGIN. noun. the act, process, or right of making coins. the categories, types, or quantity of coins issued by a nation. … Has The Word

  • Sara Reply
    3 months ago

    coinage [koi-nij] EXAMPLES | WORD ORIGIN. noun. the act, process, or right of making coins. the categories, types, or quantity of coins issued by a nation. … Has The Word

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