Correct Answer: (d) Muhammad-Bin-Tughluq
Solution:Muhammad-Bin-Tughluq launched different types of coins during his period and also decided their reasonable prices. But the circulation of token currency was his specialty. According to Barani, due to lack of silver in treasury and policy of expanding the empire, Muhammad Tughluq had to launch the token currency. The token currency was launched in Iran during the regime of Gaykhatu, though, the experiment was unsuccessful. The token currency was successfully launched during China during the period of Kublai Khan. Innovative Muhammad-Bin-Tughluq was inspired by them. The modern historian also note that there was a shortage of silver in all over the world, and there was a severe shortage of silver in India too. Due to this reason, he launched token currency.