Discuss, with examples, the significance of monetary transactions during the period under consideration.

1. During the Mughal period, India witnessed a growth in trade via sea. It led to the start of an export various goods. Due to this export, there was a rapid inflow of silver in the market in Asia. Much part of this silver reached INDIA. It was a good thing for India as it lacked natural resources of silver. As a result, there was an economic stability due to silver currency. There was an unparalleled expansion in the minting of coins and monetary transactions. Besides, the Mughals found it easy to collect the revenue in cash.

Jovanni Karari, an Italian traveller, passed through India 1690 C.E. He has clearly written how silver reached India from all parts of the world. From his description we also come to know how there was an exchange of cash and goods in India in the 17th century.

2. The mutual exchange in villages was also in cash. As the villages had set up links in the urban markets, there was a considerable increase in monetary business. In the way, villages became an important part of the monetary market.

3. Due to the monetary transactions, it was pay daily wages to labourers in cash.