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Coll 30/224 'Currency Arrangements in the Arab Sheikhdoms of the Persian Gulf' [‎6v] (20/157)

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The record is made up of 1 file (74 folios). It was created in 22 Sep 1948-14 Sep 1949. It was written in English. The original is part of the British Library: India Office The department of the British Government to which the Government of India reported between 1858 and 1947. The successor to the Court of Directors. Records and Private Papers Documents collected in a private capacity. .

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— -nil
?A3P
Mr. Fowler
My imiDression is tiiat there are already too many
currencies" circulating in the Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. and the introduction
of another might only add to the confusion. If an entirely
separate currency were required it would be better to use the
East African shilling than to start something new.
But other considerations overrule all this.
We are proposing to replace the Indian rupee in Aden
and British Somaliland and the Indians are very upset about
it. They are afraid that it may precipitate a flight from
their currency. They are already in difficultj.es in Pakistan
because of a heavy adverse balance of trade which has resulted
in Pakistan* s accumulating large Indian rupee balances which
they cannot liquidate. If, at this juncture we were to propose
to abandon the Indian rupee in the Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. we might cause
a currency crisis in India. We could not therefore think of
supporting any present proposals for a change of currency in
the Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. .
Pakistan's complaint seems largely due to mischievous
misrepresentations of local Pakistanis, but there is, no doubt,
an element of pride in it. I am afraid we cannot do anything
about their hurt pride, but we can do our best to disced" the
misunderstandings that have arisen, and, for this purpose the
poli oical\Resident* s proposal to visit Karachi seems an
admirable one. Waight* s suggestion that the Pakistanis might
be persuaded to meet the small cost of repatriating their
currency also seems worth pursuing, although they may not like
to have to do this when the Indians do not.
. , I do < not think there is anything we should ask the Uixited
Kingdom High Commissioner to say to the Pakistan Government
unless it were to pursue the Political Resident A senior ranking political representative (equivalent to a Consul General) from the diplomatic corps of the Government of India or one of its subordinate provincial governments, in charge of a Political Residency. 's proposal '
to visit Karachi. ^ F
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Content

The file concerns currency arrangements in the Arab states of the Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. that were under British influence.

The papers cover: allegations by the Government of Pakistan and in the Pakistani press of discrimination against Pakistan currency in Bahrain; exchange control policy; 'Report on Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. Tour of Treasury Representative [Leonard Waight]', dated June 1949, covering the use of the Indian rupee as the official currency of the Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. sheikhdoms, the long-term implications of the increase in oil revenue in the region and the use of surplus funds (with particular reference to Kuwait and Bahrain), and the working of exchange control, with conclusions and recommendations (folios 28-41); the comments of the Political Resident A senior ranking political representative (equivalent to a Consul General) from the diplomatic corps of the Government of India or one of its subordinate provincial governments, in charge of a Political Residency. in the Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. (Lieutenant-Colonel Sir William Rupert Hay) on Waight's report (folios 17-20); and a note of a visit to Bahrain by a representative of the State Bank of Pakistan in September 1949.

The file contains also correspondence from the Bank of England.

The file includes a divider, which gives a list of correspondence references contained in the file by year. This is placed at the back of the correspondence.

Extent and format
1 file (74 folios)
Arrangement

The papers are arranged in approximate chronological order from the rear to the front of the file. There are file notes on folios 2-11: these notes are in chronological order from the front to the rear of the file.

Physical characteristics

Foliation: the foliation sequence (used for referencing) commences at the first folio with 1 and terminates at the last folio with 74; these numbers are written in pencil, are circled, and are located in the top right corner of the recto The front of a sheet of paper or leaf, often abbreviated to 'r'. side of each folio. An additional foliation sequence is present in parallel; these numbers are printed, and are not circled. The foliation sequence does not include the front and back covers.

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English in Latin script
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Coll 30/224 'Currency Arrangements in the Arab Sheikhdoms of the Persian Gulf' [‎6v] (20/157), British Library: India Office Records and Private Papers, IOR/L/PS/12/3968B, in Qatar Digital Library <https://www.qdl.qa/archive/81055/vdc_100076712172.0x000015> [accessed 28 March 2024]

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