Omani rial facts for kids

Quick facts for kids Omani rial
Banknote of 10 Omani Rial
ISO 4217 Code	OMR
User(s)	Oman
Inflation	4.1%
Source	The World Factbook, 2011 est.
Pegged with	US dollar (USD) 1 OMR = 2.6008 USD (exact) 1 USD = 0.384497 OMR (approx.)
Subunit
1⁄1000	baisa
Symbol	ر.ع. R.O or ﷼
Coins
Freq. used	5, 10, 25, 50 baisa
Banknotes
Freq. used	100 baisa, 1⁄2, 1, 5, 10, 20, 50 rials

The Omani rial (OMR) is the official money used in Oman. It's like the dollar or euro, but for Oman! One Omani rial is made up of 1000 smaller units called baisa.

How the Omani Rial Works

The Omani rial is a very strong currency. It is one of the highest-valued money units in the world. This means one Omani rial is worth a lot compared to other currencies.

Tied to the US Dollar

Since 1973, the Omani rial has been pegged to the U.S. dollar. This means its value is fixed to the U.S. dollar. From 1973 to 1986, 1 Omani rial was worth US$2.895.

In 1986, the value changed slightly. Now, 1 Omani rial is worth US$2.6008. This fixed rate helps keep the Omani rial stable. The Central Bank of Oman manages this exchange rate.

Note: Rates obtained from these websites may contradict with pegged rate mentioned above.

A Brief History of Omani Money

Before the Omani rial, people in Oman used different types of money. This changed over time as Oman grew and developed.

Old Currencies in Oman

Before 1940, two main types of money were used in Oman. The Indian rupee was common along the coast. In the inner parts of the country, people used the Maria Theresa thaler. This thaler coin was often called a "rial" because it looked like the Spanish eight-real coin.

In those days, 64 paisa made up 1 Indian rupee. The Maria Theresa thaler was worth about 230 paisa.

Introducing Local Coins

Oman started making its own coins in 1940. These first coins were for use in Dhofar. In 1946, coins were also made for other parts of Oman. These coins were called baisa, which was like the old paisa.

Two hundred baisa made up 1 rial. The Indian rupee and later the Gulf rupee were still used alongside these new coins.

The Saidi Rial and Beyond

In 1970, Oman introduced a new currency called the Saidi rial. This replaced the Gulf rupee. The Saidi rial was named after the ruling family, the House of Al Said. One Saidi rial was worth 21 Gulf rupees.

It was also equal in value to the British pound sterling. The Saidi rial was divided into 1000 baisa.

From Saidi to Omani Rial

On November 11, 1972, the Saidi rial was replaced by the Omani rial. The value stayed the same. At this time, the Omani rial became tied to the U.S. dollar instead of the British pound.

This change happened after a big event in 1970 that changed the country's leadership. The country's name also changed, so the currency name changed too. Since 1975, new coins have been made with "Oman" as the country's name.

Omani Coins: Small Change, Big History

Coins are an important part of daily life in Oman. They come in different values and have changed over the years.

Early Coins

In the 1890s, special coins were made for Muscat and Oman. These were small values, like 1⁄3 and 1 paisa.

In 1940, coins for 10, 20, and 50 baisa were made for Dhofar. Later, 1⁄2 rial coins were added in 1948. In 1946, 2, 5, and 20 baisa coins were made for Oman.

Modern Coins

In 1970, coins were made for all of Muscat and Oman. These included 2, 5, 10, 25, 50, and 100 baisa. In 1975, new coins were issued with the country's name as "Oman."

Today, the coins you'll most often see are 5, 10, 25, and 50 baisa. Coins with values of 100 baisa or more are no longer used as money since May 2020.

Omani Banknotes: Paper Money in Circulation

Banknotes, or paper money, are used for larger amounts in Oman. They feature important Omani landmarks and leaders.

Early Banknotes

In 1970, the Sultanate of Muscat and Oman started issuing banknotes. These included values like 100 baisa, 1⁄4, 1⁄2, 1, 5, and 10 rial saidi.

Later, in 1972, the Oman Currency Board issued notes for the Omani rial. These had similar values.

Banknotes from the Central Bank

Since 1977, the Central Bank of Oman has been in charge of issuing banknotes. They introduced 20 and 50 rial notes, and later 200 baisa notes in 1985.

A new series of notes came out in 1995. Some of these, like the 5-rial notes and higher, were updated in 2000 with special foil strips for security.

Special and New Banknotes

Oman has also issued special banknotes for important events. For example, a red 1-rial note was released in 2005 for the 35th National Day. In 2010, new 5, 10, 20, and 50-rial notes were issued for the 40th National Day.

A purple 1-rial note came out in 2015 for the 45th National Day.

Current Banknotes in Use

As of 2020, many older banknotes are no longer valid. The main banknotes you'll see are from the 2010 series (5 to 50 rials) and the 2015 1-rial note. Some older 1995 series notes (100 baisa and 1⁄2 rial) are also still used.

In 2020, a brand new series of banknotes was released. These notes feature Sultan Haitham bin Tariq on the front. All banknotes issued before this new series will become invalid by January 1, 2025.

1995 Series
Image		Value	Main colour	Description
Obverse	Reverse			Obverse	Reverse
		100 baisa	Green	Sultan Qaboos bin Said al Said, irrigation canal	Verreaux eagle, white oryx
		200 baisa	Blue	Sultan Qaboos bin Said Al Said, the old terminals of Salalah Airport and Muscat International Airport	Marine Science & Fisheries Center, Port Qaboos, Muttrah
		1⁄2 rial	Brownish-purple	Sultan Qaboos bin Said Al Said, Bahla fortress	Al-Hazim fort, Nakhal Fort
		1 rial	Purple	Sultan Qaboos bin Said Al Said, Sultan Qaboos Sports Complex	Omani Khanjar (dagger), silver bracelets and ornaments, dhows
		5 rials	Orange-red
		10 rials	Brown
		20 rials	Green
		50 rials	Pink and violet
				2005 series / 35th National Day
		1 rial	Pink-purple
2010 Series / 40th National Day
		5 rials	Red	Sultan Qaboos bin Said Al Said, Sultan Qaboos University	Nizwa
		10 rials	Brown	Sultan Qaboos bin Said Al Said, Al-Nahda tower	Muttrah Fort
		20 rials	Blue	Sultan Qaboos bin Said Al Said, Sultan Qaboos Grand Mosque (Muscat)	Royal Opera House Muscat
		50 rials	Pink and violet	Sultan Qaboos bin Said Al Said, Ministry of Finance and Economy Building (Muscat)	Cabinet building and Ministry of Finance and Industry building (Muscat)

Images for kids

• 

  A 200 Omani Baisa banknote (front side).

• 

  A 100 Baisa Omani banknote.

• 

  This image shows Omani banknotes from different years.

See also

• Oman
• Economy of Oman
• Gulf Cooperation Council
• Saudi riyal
• Yemeni rial