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Omani rial

From Wikipedia, the free encyclopedia
Omani rial
ريال عماني (Arabic)
Banknote of 10 Omani Rial (Before 2020)
ISO 4217
CodeOMR (numeric: 512)
Subunit0.001
Unit
Symbolر.ع. R.O or ﷼‎
Denominations
Subunit
 1⁄1000baisa
Banknotes
 Freq. used100 baisa, 1⁄2, 1, 5, 10, 20, 50 rials
Coins
 Freq. used5, 10, 25, 50 baisa
Demographics
User(s) Oman
Issuance
Central bankCentral Bank of Oman
 Websitecbo.gov.om
Valuation
Inflation4.1%
 SourceThe World Factbook, 2011 est.
Pegged withUS dollar (USD)[1]
1 OMR = 2.6008 USD (exact)
1 USD = 0.384497 OMR (approx.)

The Omani rial (Arabic: ريال, ISO 4217 code OMR) is the currency of Oman. It is divided into 1000 baisa (also written baiza, بيسة).

Fixed exchange rate

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From 1973 to 1986, the rial was pegged to the U.S. dollar at 1 Omani rial = US$2.895. The rate was changed in 1986 to 1 Omani rial = US$2.6008,[2] which translates to approximately US$1 = 0.384497 rial. It is as of 2024 the third-highest-valued currency unit in the world after the Kuwaiti dinar and the Bahraini dinar.[3] As of 2025 still, the Central Bank of Oman bought U.S. dollars at 0.384 Omani rial, and sold U.S. dollars at 0.385 Omani rial.[4]

Current OMR exchange rates
From Google Finance: AUD CAD CHF CNY EUR GBP HKD JPY USD INR CNY KRW
From Yahoo! Finance: AUD CAD CHF CNY EUR GBP HKD JPY USD INR CNY KRW
From XE.com: AUD CAD CHF CNY EUR GBP HKD JPY USD INR CNY KRW
From OANDA: AUD CAD CHF CNY EUR GBP HKD JPY USD INR CNY KRW

Note: Rates obtained from these websites may contradict with pegged rate mentioned above.[citation needed]

History

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See also: British currency in the Middle East

Until 1940, the Indian rupee and the Maria Theresa thaler (known locally as the rial due to its similar size to the Spanish eight-real coin) were the main currencies circulating in Muscat and Oman, as the state was then known, with Indian rupees circulating on the coast and thaler in the interior. Maria Theresa thaler were valued at 230 paisa, with 64 paisa = 1 rupee.[5]

In 1940, coins were introduced for use in Dhofar, followed, in 1946, by coins for use in Oman. Both coinages were denominated in baisa (equivalent to the paisa), with 200 baisa = 1 rial. The Indian rupee and, from 1959, the Gulf rupee continued to circulate. On 6 June 1966, India devalued the Gulf rupee against the Indian rupee. Following the devaluation, several of the states still using the Gulf rupee adopted their own currencies. Oman continued to use the Gulf rupee until 1970, with the government backing the currency at its old peg to the pound, when it adopted the Saidi rial.

On 7 May 1970[6][7] the Saidi rial (named after the House of Al Said, not to be confused with Saudi riyal) was introduced as the currency of Oman to replace the Gulf rupee. It was equal to the British pound sterling and 1 Saidi rial = 21 Gulf rupees. The Saidi rial was subdivided into 1000 baisa. The Omani rial replaced the Saidi rial at par on 11 November 1972.[7][8][9] At that time, the currency became pegged to the US dollar at 1 Omani rial = US$2.895, instead of the pound sterling, a rate that would continue until 1986, when it was devalued by about 9% to 1 Omani rial = US$2.6008. The currency name was altered due to the regime change in 1970 and the subsequent change of the country's name. Since 1975, new coins have been issued with the country's name given as Oman.

Coins

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In the 1890s, coins for 1⁄12 and 1⁄4 anna (1⁄3 and 1 paisa) were minted specifically for use in Muscat and Oman.

In 1940, coins were issued for use in Dhofar in denominations of 10, 20 and 50 baisa. 1⁄2 rial coins were added in 1948, followed by 3 baisa in 1959. In 1946, 2, 5 and 20 baisa coins were introduced for use in Oman. These were followed, between 1959 and 1960, by 3 baisa, 1⁄2 and 1 rial coins.

In 1970, a coinage for all of Muscat and Oman was introduced. Denominations were 2, 5, 10, 25, 50 and 100 baisa. In 1975, new coins were issued with the country's name given as Oman. 1⁄4 and 1⁄2 rial coins were introduced in 1980.

Coins currently circulating are 5, 10, 25 and 50 baisa. On 20 May 2020, coins with denominations of 100 baisa and more lost their monetary value.[10]

1975 issue

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Sultan Qaboos issue (1975)
Image Value Diameter
(mm) 		Mass
(g) 		Composition Edge Obverse Reverse Issue
5 baisa 19 3.11 Bronze Smooth National emblem; Lettering:
Qaboos bin Said, Sultan of Oman 		Denomination in Arabic;
Year of issue in Hijri and Gregorian 		1975
2.65 Copper-clad steel 1999
10 baisa 22.5 4.76 Bronze Smooth 1975
4.1 Copper-clad steel 1999
25 baisa 18 3 Copper-nickel Reeded 1975
2.63 Nickel-plated steel 2008
50 baisa 24 6.4 Copper-nickel Reeded 1975
5.57 Nickel-plated steel 2008
100 baisa 21.5 4.20 Copper-nickel Reeded National emblem; Lettering:
Sultanate of Oman;
Year of issue in Hijri and Gregorian 		Lettering: Central Bank of Oman and value 1984
1⁄4 riyal 26 6.5 Aluminium bronze Lettered 1979
1⁄2 riyal 30 10 Aluminium bronze Reeded 1979

2020 issue

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Sultan Haitham issue (2020)
Image Value Diameter
(mm) 		Mass
(g) 		Composition Edge Obverse Reverse Issue
5 baisa 19 2.64 Copper-clad steel Smooth National emblem; Lettering:
Haitham bin Tariq, Sultan of Oman 		Denomination in English and Arabic;
Year of issue in Hijri and Gregorian 		2020
10 baisa 22.5 4.08 Copper-clad steel Smooth
25 baisa 18 2.65 Stainless steel Reeded
50 baisa 24 5.55 Stainless steel Reeded

Banknotes

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On 7 May 1970, the Sultanate of Muscat and Oman issued banknotes in denominations of 100 baisa, 1⁄4, 1⁄2, 1, 5 and 10 rial saidi.[11] These were followed by notes for 100 baisa, 1⁄4, 1⁄2, 1, 5 and 10 Omani rials issued by the Oman Currency Board on 18 November 1972.[12]

From 1977, the Central Bank of Oman has issued notes, with 20 and 50 rial notes introduced that, followed by 200 baisa notes in 1985.

A new series of notes was issued on 1 November 1995, and the 5-rial notes and higher were updated in 2000 with foil strips.

In 2005, a red 1-rial note commemorating the 35th National Day was issued.

In 2010, new 5-, 10-, 20- and 50-rial notes were issued on the occasion of the 40th National Day. The 20-rial note is blue instead of green while the other notes are the same colour as previously.

In 2015, a purple 1-rial note commemorating the 45th National Day was issued.[13]

After 30 July 2019, all banknotes issued before 1 November 1995 became invalid, as well as the 5 to 50 rial banknotes issued on that date without foil strips. The 5- to 50-rial banknotes of the 1995 series with foil strips, released into circulation from 2000, remained valid.[14] Thus, as of 2020, banknotes in circulation are mainly the 2010 series of 5 to 50 rial, the 2015 1-rial note, and the 1995 series of 100 baisa and 1⁄2 rial. The 1995 200-baisa note, the 1995 and 2005 1-rial notes, and the 2000 release of 5- to 50-rial notes are still accepted[when?] but not commonly seen. Coins in circulation are mainly 25 and 50 baisa, with 5 and 10 baisa used in shops whose pricing requires them.

This image shows Omani banknotes from different years.

In 2020, a new series of banknotes from 100 baisa to 50 rials was released, with Sultan Haitham bin Tariq on the obverse. Since the 1st of January 2025, all previous banknotes are invalidated and can no longer be exchanged, even at banks.

1973 Series
Image Value Main colour Description
Obverse Reverse Obverse Reverse
100 baiza Brown
1⁄4 rial Blue
1⁄2 rial Green
1 rial Red
5 rials Purple
10 rials Brown-black
1977 Series
Image Value Main colour Description
Obverse Reverse Obverse Reverse
100 baiza Orange
200 baiza Purple
1⁄4 rial Blue
1⁄2 rial Green
1 rial Red
5 rials Maroon
10 rials Brown-black
20 rials Dark green
1985 Series
Image Value Main colour Description
Obverse Reverse Obverse Reverse
100 baiza Red-brown
200 baiza Purple
1⁄4 rial Blue
1⁄2 rial Green
1 rial Red
5 rials Maroon
10 rials Dark brown
20 rials Brown-black
50 rials Dark green

Fifth issue

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Fifth issue (1995)
Image Value Dimensions
(mm) 		Main colour Description Date of
Obverse Reverse issue withdrawal
100 baisa 122 x 64 Green Qaboos bin Said,
irrigation canal 		Verreaux eagle, white oryx 1995 31 December 2024
200 baisa 129 x 64 Blue Qaboos bin Said,
Salalah Airport and
Muscat International Airport 		Marine Science & Fisheries Center,
Port Sultan Qaboos 		1995
RO 1⁄2 136 x 64 Puce Qaboos bin Said,
Bahla Fort 		Al-Hazim fort, Nakhal Fort 1995
RO 1 146 x 76 Purple Qaboos bin Said,
Sultan Qaboos Sports Complex 		Omani khanjar,
bracelets, ornaments, dhows 		1995
RO 5 153 x 76 Red Qaboos bin Said,
Sultan Qaboos University 		Nizwa 1995, 2000
RO 10 160 x 76 Brown Qaboos bin Said,
Burj al-Nahdah 		Muttrah fort 1995, 2000
RO 20 167 x 76 Blue-green Qaboos bin Said,
Central bank 		Muscat Securities Market,
Rusayl industrial area 		1995, 2000
RO 50 174 x 76 Burgundy Qaboos bin Said,
Al-Mirani Fort, Finance ministry 		Commerce ministry 1995, 2000
35th National Day issue (2005)
RO 1 146 x 76 Red Qaboos bin Said RNOV Shabab Oman,
Al Jalali Fort, minaret 		2005 31 December 2024
40th National Day issue (2010)
RO 5 153 x 76 Red Qaboos bin Said,
Sultan Qaboos University 		Nizwa 2012 31 December 2024
RO 10 160 x 76 Brown Qaboos bin Said,
Burj al-Nahdah 		Muttrah fort 2012
RO 20 167 x 76 Blue Qaboos bin Said,
Sultan Qaboos Grand Mosque 		Royal Opera House Muscat 2010
RO 50 174 x 76 Burgundy Qaboos bin Said,
Al-Mirani Fort, Finance ministry 		Commerce ministry 2012
45th National Day issue (2015)
RO 1 140 x 71 Purple Qaboos bin Said,
Al Alam Palace 		Sultan Qaboos University 2015 31 December 2024

Sixth issue

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Sixth issue (2020)[15]
Image Value Dimensions
(mm) 		Main colour Description Date of issue
Obverse Reverse
[1] 100 baisa 174 x 76 Brown National emblem;
Jebel Akhdar terraces 		Falaj Al-Jeela;
Coconut trees and palm groves 		2021
[2] RO 1⁄2 174 x 76 Green National emblem;
Ain Khor and frankincense 		Arabian leopard and sooty falcon 2021
[3] RO 1 146 x 76 Red National emblem;
Oman Across Ages Museum 		Khasab Castle, Wadi Al-Ayn tombs,
Jirz axe, Omani khanjar 		2021
[4] RO 5 153 x 76 Pink Haitham bin Tariq;
Sultan Qaboos University 		Royal Opera House Muscat 2021
[5] RO 10 160 x 76 Beige Haitham bin Tariq;
Sultan Qaboos Grand Mosque 		Al-Baleed Great Mosque;
Niche of al-Uweyna Mosque 		2021
[6] RO 20 167 x 76 Blue Haitham bin Tariq;
Muscat International Airport 		Batinah Expressway;
Salalah International Airport;
Sohar Industrial Port 		2021
[7] RO 50 174 x 76 Green Qaboos bin Said;
Central bank building 		Council of Oman;
Ministry of Finance;
Supreme Court 		2020

See also

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References

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  1. ^ "CBO Annual Report 2014" (PDF). Retrieved 2024-01-18.
  2. ^ Chapter V, CBO Annual Report 2014
  3. ^ Groves, Jo (2024-04-18). "Top 10 Strongest Currencies In The World In 2024". Forbes Advisor UK. Retrieved 2024-04-26.
  4. ^ "OMR to PKR". Driveiz.{{cite web}}: CS1 maint: url-status (link)
  5. ^ "Global Financial Data". Archived from the original on 2007-09-26. Retrieved 2007-03-15.
  6. ^ Central Bank of Oman - Currency Museum
  7. ^ a b Omani rial at Exchange Currency
  8. ^ Oman at Encyclopedia.com
  9. ^ Currency of Oman: Omani rial at Mataf
  10. ^ "These coins will be cancelled by the Central Bank of Oman".
  11. ^ Linzmayer, Owen (2012). "Muscat and Oman". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.
  12. ^ Linzmayer, Owen (2012). "Oman". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.
  13. ^ "Oman banknotes – Oman paper money catalog and Omani currency history".
  14. ^ "Old banknotes will not be valid after one month: Central Bank of Oman".
  15. ^ "New Banknotes Go into Circulation Starting Today". Virgin Radio Oman. 11 January 2021. Retrieved 11 September 2022.
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Preceded by:
Gulf rupee
Ratio: 1 rial = approximately 21 rupees = 1 British pound 		Currency of Oman
1970 –
Note: known as "rial Saidi" before 1973, since known as "rial Omani" 		Succeeded by:
Current
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