Buddhist Currency in Ancient Period: A Comparative Study.

Currency is a very important element in the economic system of a society as a medium of exchange. A coin is a piece of metal that needs to have a specific purity and weight. It is also important simultaneously to consider it as a medium of exchange. In ancient India, ‘cowry shells’ were used as an easy means of exchange of goods. The weight of ‘guñjā’ seeds were used as a unit of measurement in the Indus Valley civilization. In the ancient Indian monetary system weight was measured with great precision. In Vedic literature, the word ‘niṣka’, ‘śatamāna’ etc. are used to denote metal fragments. The eighth chapter of the ‘Manusaṃhitā’ mentions the ‘trasareṇu’ as the first unit of measurement, which actually refers to the very small mote which is seen when the sun shines through a lattice. Apart from this, the words likṣā, sarṣapa, kr̥ṣṇala, māṣaka, suvarṇa, paṇa/kārṣāpaṇa, pala, dharaṇa, sāhasa etc. associated with various currencies and their measurement system can be noticed in ‘Manusaṃhitā’ and ‘Arthaśāstra’. However, after the discovery of coins that found in Taxila and Kabul, there is undoubted evidence of the circulation of metal coins in India in the 5th century BC. The ‘kārṣāpaṇa’ coin mentioned in the Buddhist scriptures of the Pre-Maurya era is quite similar to these. In various Buddhist texts such as Vinaya Piṭaka, Dhammapada, Jātaka, visuddhimaggo, etc., there are references to various coins and currency measurement terms such as Kahāpaṇa, Kākaṇikā, Dharaṇa, Pala, Pāda, Māsaka, Aḍḍha etc. Through the said discussion, based on the information and data found in various Buddhist texts including ‘Manusaṃhitā’ and ‘Arthaśāstra’ etc. to provide a detailed discussion about the currency of the Ancient Buddhist era and its measurement system.