(a) The parity rate of the Bahraini dinar shall be 1.86621 grams of pure gold. The Amir may, at any time, on the recommendation of both the Minister of Finance and the Agency and with due regard to the obligations of the State of Bahrain under any international monetary agreement it may have signed or acceded to, declare a different parity rate or external value for the dinar, as well as change the parity rate of the dinar in relation to gold, to the special drawing right units, to a convertible currency, or to any recognized standards international unit of currency. Such a parity rate shall be taken as basis for foreign exchange operations in the State of Bahrain. Change in the parity rate or external value of the dinar, and any ensuing change, shall be published in the Official Gazette and in other appropriate means of publicity.
(b) The Agency shall, as a means of maintaining the parity rate or any other external value of the dinar referred to in paragraph (a), buy and sell gold or convertible currencies, through the operations authorized in Article (30) for the purpose of clearing foreign transactions.
(c) The Agency shall from time to time set and publish the prices and other terms and conditions it will adopt in the currency and gold purchase and sale operations referred to in paragraph (b).