Oman Rial (OMR)
Contents
Unlocking the Mysteries of the Omani Rial: A Complete Guide
Exploring the Origins of the Omani Rial
Dive into the history and evolution of the Omani Rial (OMR), the official currency of Oman. Learn about its inception during the early 1970s and its significance in the country's economic modernization efforts following a period of upheaval.
Understanding the Structure and Management
Gain insights into the structure of the Omani Rial, including its subdivision into smaller units known as baisa. Explore how the currency is managed and regulated by the Central Bank of Oman, ensuring stability and reliability in financial transactions.
The Omani Rial's Peg to the U.S. Dollar
Discover the intricacies of the Omani Rial's exchange rate mechanism, which is pegged to the U.S. dollar. Learn about the historical adjustments made to this peg, including notable changes in 1986, and their impacts on Oman's economy and international trade.