RSSThe Indian Rupee and the Maria Thaler, known commonly as rial, were the most popular form of currencies used in Oman, before 1940. In 940, coins were introduced in Dhofar, followed by Oman, whose denominations were based on Baisa, carrying value equal to the Indian paisa. One rial equalled to 200 baisa. While the Indian Rupee was still circulated, from 1959, Gulf Rupee also made entry into money circulation in Oman.
The Gulf Rupee gave way to the Rial Saidi, which was designated as the Omani currency in 1970. It carried value that was equivalent to the British Pound. Rial Saidi replaced Gulf rupee at a rate of approximately 21 rupees to the rial.
The Omani Rial, denoted by OMR, is the official currency of Oman. One Rial is subdivided into 1000 Baiza. As on December 2010, one Rial equalled 2.6001 US Dollars.
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