Blog

OMR – Omani Rial

May 31, 2017/ merchant_currency / Currency

The Omani Rial is the original currency of Oman. It is split into 1/1000 baisa. The currency symbol is (﷼) and the currency code for Rials is (OMR).

Overview OMR – Omani Rial

Prior 1940, the Indian rupee and the Maria Theresa thaler were the main money circulating in Muscat and Oman, as the state was then known, with rupees circulating on the coast and Thaler in the interior. Maria Theresa Thaler was valued at 230 paisa, with 64 paisa according to the rupee. In 1940, coins were introduced for use in Dhofar, followed, in 1946, by coins for use in Oman. Both coins were denominated in baisa with 200 baisa to the rial. The Indian rupee and, from 1959, the Gulf rupee continued to distribute. The Saudi Riyal became the official money of Oman in 1970 and is equivalent to the British Pound and its replace the Gulf Rupee at a rate of 21 Rupee equal to 1 Rial. OMR replaced the Saudi riyal in 1973.

Omani Rial state currency is the Omani Rial  (﷼) which comes in notes denominations of ﷼ 1 to ﷼50 notes and bz100 to bz500.

Qatari Riyal state currency is the Qatari Riyal (bz) which comes in Coins denominations of bz5 to bz50.

Importance Facts for Currency Banknote:

• OMR Stats name: XAU – Omani Rial
• Omani Rial Symbol and Baisa: Sign (﷼) and bz
• Authority: Reserve Central Bank of Oman
• Countries: Oman

Know About Economy of Omani Rial

Oman’s has achieved important business growth since the early 1990s based on the improvement in oil prices in 1999. it joined in 2000, Oman increased its markets in order gain company in the World Trade Organization. Today, Oman’s economics is based in its oil business. Oil was discovered in 1964 by Fahud in the Latin desert, and oil production started in August 1967.

Currency Facts

Tags best currency ratescurrency checkerforeign currencyglobal currency converterglobal currency ratesOMR currencyonline currency converteronline currency rate