Chandragupta Maurya and His Times c15.161

c15.161

The gold coin of Persia could not, however, obtain wide circulation in India for an important economic reason. India was known for its abundance of gold, so much so that its value relatively to silver was very low, as low as 1 : 8 as compared with the ratio of 1 : 13.3 maintained by the Imperial Persian Mint. Therefore, the *Darics* that would find their way into India appeared to be an artificially inflated currency and would find no place in the India currency system, and would be exported at once. There was no profit in holding such *Darics* in India when they could be exchanged for more silver elsewhere. Therefore, Persian gold coinage has not been found in any appreciable quantity in India.