What Currency Does Oman Use?
Short Answer
Oman uses the Omani rial, abbreviated as OMR, as its official currency. The rial is subdivided into one thousand baisa. It is one of the highest-valued currency units in the world, with one rial equivalent to approximately 2.60 United States dollars.
Detailed Answer
The Omani rial has been the official currency of the Sultanate since 1970, when it replaced the Gulf rupee as part of the modernisation programme initiated under Sultan Qaboos. The currency is issued and regulated by the Central Bank of Oman, which maintains full control over monetary policy within the constraints of the dollar peg.
Banknotes are issued in denominations of one hundred baisa and in rial denominations of half, one, five, ten, twenty, and fifty. Coins circulate in denominations of five, ten, twenty-five, and fifty baisa, though the smallest denominations are increasingly rare in daily transactions.
The high unit value of the rial means that everyday transactions often involve decimal amounts. A typical restaurant meal might cost three to five rials, while a litre of fuel costs approximately a quarter of a rial. Visitors often find the currency intuitive once they adjust to the decimal system.
United States dollars are widely accepted in hotels, airports, and tourist areas, though the rial is required for most local transactions. Major international credit and debit cards are accepted throughout Muscat and other urban centres. ATMs dispense rials and are readily available across the country.