Change of currency

This file contains:

• Copy of the Bahrain Government's budget for 1963 with a covering letter from the Political Agent in Bahrain E P Wiltshire (1)
• Announcement from the Bahrain Government withdrawing from circulation all rupee, half and quarter rupee coins bearing the King's head (2, 4)
• Correspondence and the minutes of meetings discussing a Bahraini proposal to discontinue the use of the Indian external rupee as their currency. They have requested advice from HMG about this (3, 5-6, 8, 10-11, 13-14)
• Details of the Bahrain government's reserve fund (7)
• Request from the Bank of Bahrain for permission to increase the limit they are allowed to maintain in foreign currency from £5,000 to £50,000 (9)
• Account of a discussion with Bahrain Government Head of Finance Sheikh Khalifa Bin Salman Al Khalifa and the Director of Finance Sayyed Mahmoud Al Alawi, concerning their fears about the possible future devaluation of the Indian rupee (12)
• Draft paper setting out the arguments and considerations relating to the Gulf currency, along with comments and suggested amendments. It also contains an annex providing details of the trade of the Gulf States with India (15)