The national monetary unit of the State of Omanis a local rial. It will be by the way to say that this is not only the name of the Omani monetary unit, but also the money of some other states. Rial is the currency of Yemen, Oman, Iran and Qatar. It was put into circulation in 1974. The Omani rial consists of a thousand byzes. In the international financial system, this currency unit has the ISO 4217 code and the OMR designation. Omani rial was put into circulation instead of Saida rial. In this case, the exchange of currencies was carried out in a ratio of 1 to 1.
Many people ask themselves, what is the currency in Oman?Here it is appropriate to make a short digression into the history of the monetary units of this state. In the XIX century in the territory of modern Oman, the thaler of Maria Theresa, as well as the Indian rupee, dominated. At the end of the 90s of the same century copper coins with the nominal value of 1/12 and ¼ anna were started to be minted. In 1940, the production of baizes was launched, and in 1948 - rials of Dophari province and Siali rials. Already in 1959, the minting of the rupees of the Persian Gulf began, but rial and thaler remained in monetary circulation.
In 1966, the depreciation of the rupee occurredThe Persian Gulf, caused by the devaluation of the Indian rupee. In the official circulation, there were only coins of the Sultanate and thaler of Maria Theresa. Four years later, the status of the official currency of Oman was Saida rial. In this role, he stayed until 1974, when the Omani rial was launched into circulation.
To date, there are coins in circulationthe value of five to a thousand bytes, as well as notes ranging in value from one hundred to fifty riyals. It will be by the way to say that other monetary units are used on the territory of the state. At the same time, the local population prefers to use the national currency of Oman for various operations. In addition, in some regions of the country, UAE dirhams are in circulation. This monetary unit has circulation, for example, in the Omani enclave of the Principality of Fujairah, in the oasis of Buraimi.
The coins of threedenominations: ten, twenty-five and fifty bytes. It should be noted that the 10-pound coin is covered in bronze, and the coins of 25 and 50 bytes are made of copper-nickel alloy.
A distinctive feature of Omani billsis that the inscriptions on them are on the one hand made in English, and the other in Arabic. At the same time, all the text on coins is made in Arabic only and the English translation is not duplicated. The obverse of all banknotes of Omani monetary units contains an image of the ruler of Oman, Sultan Qaboos bin Said Al Said.
The reverse of Omani currency units is issued in differentcolor combination using images of wild animals, birds, cities and other objects. So, a banknote of 0.1 OMR is made in green and contains figures of local animals and birds. A note in 0.2 OMR is issued in turquoise. Its design uses images of the city and the seaport.
A dark blue banknote with a denomination of 0.25 OMRcontains a drawing of fishing. A denomination of 0.5 OMR is made in a dark green color. Its reverse is decorated with a fortified castle and a raised banner. One rial is a purple color and contains an image of a sailboat. The denomination of five rials is made using different colors on the obverse and reverse. So, the front side of this banknote is pale blue, and the reverse one is red. The reverse of five rials contains images of a mosque and a city panorama.
The denomination of ten rials is also executedusing a combination of colors. The obverse of the banknote is pale blue, and the reverse is light brown. The reverse side of the note contains the image of the bay and the fort Mutrah. The largest denomination of a banknote of the Omani currency is fifty riyals. It is executed in a lilac color, and on its reverse the building of the Ministry of Trade and Industry is represented.
It should be emphasized that the latest samplesOmani monetary unit are slightly different from old paper bills. In new banknotes, additional anti-counterfeiting means are used. Namely - holographic bands. In addition, it should be noted that since 2010, the Central Bank of Oman has launched banknotes made on a polymer basis.
The Omani currency isfreely convertible and stable currency. As evidence of this fact, several impressive data concerning the currency of Oman can be cited. So, in 2012 the average rate of local rial against the US dollar was 2.59. That is, for one rial was given $ 2.59. The exchange rate of the currency of Oman to the euro at that time was 1 OMR = 2.02 EUR. In 2017, the ratio between the Omani rial and the main reserve world currencies is: 1 OMR = 2.60 USD and 1 OMR = 2.32 EUR.
As can be seen, relative to the US dollar, the Omani rialfor five years has risen in price a little. The difference in the ratio of the currency of Oman and the euro has become palpable in favor of rial. But this is due primarily to some devaluation of the EU monetary unit. The rate of the Omani rial to the Russian ruble is 1 OMR = 149,26 RUB.
In Oman, exchange various monetary units forlocal riyals can be in exchange offices, banks or large hotel complexes. The most profitable exchange rate for Omani rial can be obtained if you take American dollars or British pounds sterling with you. They are exchanged and easier, and more convenient.
Banking institutions operate in Oman inThis mode: from Saturday to Wednesday from eight in the morning until noon, on Thursday - from 8:00 to 11:00. Some exchange offices are open until seven in the evening. In addition, it should be noted that ATMs are widely distributed in Oman. At the same time, most of them can only serve plastic cards issued by local banks. To purchase goods and services, you can use credit and payment cards of major world systems. In Oman, they are accepted almost everywhere.
