Who among the following Delhi Sultans is credited with introducing the token currency system using copper and brass coins in place of silver?

💡 Solution & Explanation

Muhammad bin Tughlaq introduced token currency by issuing copper and brass coins equivalent in face value to gold and silver dinars and dahans. Due to widespread counterfeiting and lack of royal control over mints, the experiment failed economically and caused severe fiscal disruption. He subsequently withdrew the tokens and exchanged them for genuine bullion from the royal treasury.