Currency Rates for Omani Rial
Currency Exchange Rates for Omani Rial. Currency Information on OMR for Oman. - ر.ع . The foreign exchange currency code for OMR represents the Omani Rial exchange rate
GBP to OMR
Oman’s currency divides into 1000 baisa ( or baiza) was introduced in 1970 and was equal to the British pound, it replaced the Gulf rupee at a ratio of 21 rupees: 1 rial.
Send Money Transfer to Oman. Coins in denominations of 5, 10, 25, 50 and 100 baisa are available, as are banknotes of 100, 200 baisa, and ½, 1, 5, 10, 20 and 50 rials.
The Omani rial OMR, existed before the 1940's in Oman and some parts of Muscat. The Omani rial (also known as the Maria Theresa thaler) was equivalent to 230 baisa, with 64 baisa equal to a rupee. In today's markets going by the current exchange rates the Omani rial is equal to 2.65 US dollars. Minting of Omani coins started in the 1890's and were in use in Oman in 1946 and denominated as baisa with 200 baisa to the Omani rial. In 1970, the rial saidi was made currency of Oman and was equal to the British pound, more coins were minted in 1970 in denominations of 5, 10, 25, 50 and 100 baisa. Omani coins seemed okay but on 7th May, 1970 Omani rial notes were issued in denominations of 100 baisa which was green in color, 1/2 Omani rial which was brownish purple, one Omani rial which was purple, five Omani rials which was red, 10 Omani rials which were brown and 20 Omani rials which were blue in color just to name a few.
The Omani rial may have dipped a little in the exchange markets because from 1973 to some months in 1986 the Omani rial was exchanging at 1 Omani rial=$2.895 USD to fall slightly to 1 Omani rial=$2.6008 USD in 1986, with $1 USD 0.384497 Omani rial. The economy of Oman may be largely attributed to her strong currency which is the Omani rial as it's the third largest currency and basing on its strength against the US dollar, the Omani rial is doing quite well in forex markets. There has not been any restrictions on the import and export of fnds in Oman and that's why the Oman government doesn't require you to state your currency, the Omani rial though can be substituted but one needs to know the exchange rates in order to do that.
Just recently the Oman government issued a new 1 Oman rial to commemorate their 45th National Day. The new Omani rial will also be in circulation with the other notes currently in the market is red in colour. Bank Exchange Rates for Omani Rial. The foreign exchange rates for Oman also known as the ISO code OMR. Send money transfer online with us with the cheapest options.