(, ISO 4217
) is the currency
. It is divided into 1000 baisa
(also written baiza
, Arabic: بيسة).
Before 1940, the Indian rupee
and the Maria Theresa Thaler
(known locally as the rial) were the main currencies circulating in Muscat and Oman
, as the state was then known, with rupees circulating on the coast and Thaler in the interior. Maria Theresa Thaler were valued at 230 paisa, with 64 paisa
equal to the rupee.
In 1940, coins were introduced for use in Dhofar
, followed, in 1946, by coins for use in Oman
. Both coinages were denominated in baisa (equivalent to the paisa), with 200 baisa to the rial. The Indian rupee and, from 1959, the Gulf rupee
continued to circulate.
In 1970, the rial Saidi
(not to be confused with Saudi riyal
) was made the currency of Oman. It was equal to the British pound
and replaced the Gulf rupee at a rate of approximately 21 rupees to the rial. The new rial was subdivided into 1000 baisa. The rial Omani
replaced the rial Saidi at par in 1973. The currency name was altered due to the regime change
in 1970 and the subsequent change of the country's name.
For a wider history surrounding currency in the region, see The History of British Currency in the Middle East
In the 1890s, coins for and ¼ anna
(⅓ and 1 paisa) were minted specifically for use in Muscat and Oman.
In 1940, coins were issued for use in Dhofar
in denominations of 10, 20 and 50 baisa. ½ rial coins were added in 1948, followed by 3 baisa... Read More