Everything about the Omani rial, the currency of Omanby Juan José Herranz | July 24, 2019
What is the Omani currency?
If you decide to travel to the Sultanate of Oman you should know that its official currency is the Omani rial (OMR). The Omani rial has been issued by the Central Bank of Oman since 1977 and is divided into 1,000 baisa. Among its curiosities, it should be noted that the Omani rial is the fourth most overvalued currency in the world along with the Kuwaiti dinar, the Maltese lira and the Bahrain dinar.
The rial and baisa banknotes include 100 to 200 baisa and ½, 1, 5, 10, 20 and 50 rials. The 100 baisa banknotes are green and the 200 baisa banknotes are blue. There is also 1 rial in violet; 5 rials in red; 10 rials in brown or blue; 20 rials in blue and 50 rials in violet.
How to exchange currency in Oman
Oman is one of the most developed and stable countries in the Arab world and it is possible to change currency in banks and exchange offices. Exchanges there are sometimes even more favourable.
The exchange rate is:
- 1 euro = 0,41 Omani rial
- 1 dollar = 0,38 Omani rial
- 1 sterling pound = 0,47 Omani rial
It should be noted that there are no entry and exit restrictions with regards to currencies, but it is mandatory to declare amounts equal to or greater than 6,000 Omani rials.
Credit cards are accepted and there are a large number of ATMs in different cities and major towns.
Is living in Oman expensive?
Oman is not a cheap country. A meal costs 5 rials, urban transport costs 1 rial and a taxi from the airport to the centre of Muscat costs about 10 rials. Nevertheless, Petrol is also very cheap because Oman is a producing country.
Booking an accommodation will vary from a studio of 260 rials to an apartment of 420 rials in a normal area up to 720 rials.
It is also is important to highlight the price of eating out and food. An all-inclusive menu in an expensive area can cost 6 rials, and basic products like a litre of milk can cost 0.65, one kilo of apples 1.07, a dozen eggs 1.63 and a loaf of bread 0.39.
It should be noted that in the souks it is normal to bargain, a tradition in Arab countries. And as for the sale of alcoholic beverages, there is no free sale and consumption in public is prohibited.