THIS book was first written during 1938-39 with the limited objective of providing a clear and concise account of the main developments in our currency system during the last hundred years and its first edition came out a few months after the outbreak of war. The impact of the War on the international monetary relations was bound to be severe and generally disruptive. In the sphere of Indian currency also it gave rise to important developments such as an increase in the volume of currency, an inflationary rise of prices, introduction of exchange control and price control and accumulation of sterling balances.