1 Rupee – Jaintia Kingdom

In 1669, the Jaintia Kingdom, nestled in the Khasi and Jaintia hills of present-day Meghalaya, India, operated within a complex economic system that blended traditional barter with regional monetary flows. The kingdom’s core internal economy was largely non-monetized, relying on the exchange of locally produced goods such as rice, betel nuts, lime, and handwoven textiles. This system was underpinned by a sophisticated social and clan-based network where value was measured in utility and reciprocity rather than coined currency.

However, the kingdom was not isolated from the monetized economies of the surrounding plains. Its strategic location between the Brahmaputra Valley of Ahom-dominated Assam and the Sylhet plains of Mughal Bengal placed it at the crossroads of significant trade routes. By 1669, Jaintia was actively engaged in commerce, exporting goods like limestone, ivory, and cane to these regions. In return, it absorbed silver and copper coins from the Mughal sikka and other circulating currencies, which were used primarily for high-value transactions, state treasury reserves, and trade with external merchants, rather than in everyday village life.

Thus, the currency situation was one of duality. The internal hill economy functioned on a subsistence and barter basis, while the state and its mercantile class engaged with the broader monetary systems of South Asia. This hybrid model allowed the kingdom to maintain its traditional socio-economic structures while leveraging external trade for wealth and political leverage, a delicate balance characteristic of many autonomous hill states in the region during the 17th century.