Product
?
Select the product in which currency has to be issued
?
Enter the required forex amount OR payable INR amount. As per RBI norms single traveller can carry maximum 250000 USD in a financial year
×
?
Communication Details (Your order confirmation details will be sent on these contact details)
Your details

Total amount to pay for your order (incl. taxes)

Rs.
i
  • As per RBI norms, the GST is applicable as per travellers.
  • This amount is calculated considering one traveller. You can further add/edit travellers in preconfirmation page which can impact the total amount.
  • You may block foreign currency by paying 2% of total transaction value. This blocked rate will be valid for 2 working days.
  • As per RBI norms, the GST is applicable as per travellers.
  • This amount is calculated considering one traveller. You can further add/edit travellers in preconfirmation page which can impact the total amount.
  • You may block foreign currency by paying 2% of total transaction value. This blocked rate will be valid for 2 working days.
  • Disclaimer Note for TCS
    (i) Tax Collection at Source (TCS) at the rate of 0.5% or 5% as applicable will be levied under section 206C(1G)(b) of the Income Tax Act on remittance on account of Education purpose or Medical purpose, if the aggregate amount exceeds Rs.7,00,000 in a financial year under the Liberalized Remittance Scheme of the Reserve Bank of India.
    (ii) Tax Collection at Source (TCS) at the rate of 20% will be levied under section 206C(1G)(b) of the Income Tax Act on all other remittances not covered in (i) above without any threshold limit in a financial year under the Liberalised Remittance Scheme of the Reserve Bank of India.The TCS collected will be reflected in the 26AS of the payer for claiming Income Tax credit.
  • Disclaimer Note for non-refund of TCS
    In the event of cancellation of services and refund of amount, Tax collected at source under section 206C(1G) of the Income Tax Act, 1961 shall not be refunded. The non-refunded TCS will be reflected in the 26AS of the payer for claiming Income Tax credit.
  • Disclaimer Note for TCS
    (i) Tax Collection at Source (TCS) at the rate of 0.5% or 5% as applicable will be levied under section 206C(1G)(b) of the Income Tax Act on remittance on account of Education purpose or Medical purpose, if the aggregate amount exceeds Rs.7,00,000 in a financial year under the Liberalized Remittance Scheme of the Reserve Bank of India.
    (ii) Tax Collection at Source (TCS) at the rate of 20% will be levied under section 206C(1G)(b) of the Income Tax Act on all other remittances not covered in (i) above, if the aggregate amount exceeds Rs.7,00,000 in a financial year under the Liberalized Remittance Scheme of the Reserve Bank of India.
    The TCS collected will be reflected in the 26AS of the payer for claiming Income Tax credit.
  • Disclaimer Note for non-refund of TCS
    In the event of cancellation of services and refund of amount, Tax collected at source under section 206C (1G) of the Income Tax Act, 1961 shall not be refunded. The non-refunded TCS will be reflected in the 26AS of the payer for claiming Income Tax credit.
Save Quote
Send Quote

Send Quote

×
×
(+) Add more
you can add maximum of 5 email address.

Dear Customer,the selected currency is not readily available,hence cannot proceed ahead with this transaction. Our expert will contact you for further assistance or you can also call us on toll free no 1800-2099-100.

  Privacy Policy
Already have a Card? Know Your Balance

Omani Rial (OMR) - Currency of Oman

Buying Rate (INR)
Selling Rate (INR)
Remittance Rate (INR)

Buy, Sell or Transfer Omani Rial (OMR) in India at the best exchange rates

About Omani Rial (OMR)

Being the world’s 3rd highest valued currency and the official currency of the Sultanate of Oman, the Omani Rial was introduced in the year 1973, replacing the Saudi Riyal. The change came in courtesy to the change in the regime and was followed by a change of the country name thereafter. In 1970, the OMR (then known as Rial Saidi) had a value equal to the British pound (GBP) and was a popular currency that replaced the Indian rupee in coastal regions. OMR (Omani Rial) is made up of 1000 Baisa. This currency is issued by the chief bank of this region – The Central Bank of Oman. In 1986, Oman created a fixed exchange rate and established a .38 Omani Rial peg to the U.S. dollar.

Some facts that you ought to know about the omani:

    1. The short name for Omani currency is OMR.
    2. The maximum used coins are 5 Baisa, 10 Baisa, 25 Baisa, 50 Baisa.
    3. The most frequently used banknotes are 100 Baisa, 200 Baisa, 0.5 Rial, 1 Rial, 5 Rials, 10 Rials, 20 Rials, 50 Rials.

History of Omani Riyal

Located on the Southern coast of the Arabian Peninsula, Oman is an important Islamic country and so is its currency - the Omani Riyal. Omani Riyal is represented as OMR and was introduced in the year 1970 replacing the Indian rupee in transactions. The currency was initially introduced on a trial basis and was known as Rial Saidi. The currency gradually adapted to the financial world and started to gain significance. By the year 1973, it was officially called the Omani Riyal and became the currency of Oman. Qaboos Bin Said is the name behind the introduction of the currency and the revival of Oman’s economy. During the early 1970s, OMR saw major changes and emerged as a leading currency in the world.

In the initial years, Indian Rupee and Maria Theresa were the main currencies used for transactions in Oman. In the early 1940s, coins were introduced for the first time in Oman and were denominated as Baisa. Baisa had a rate of 200 Baisa = 1 Rial. Following this, the Rial Saidi was introduced replacing all other currencies in Oman. The Saudi Riyal was equivalent to the British Pound and replaced the Gulf Rupee at a rate of 21 Rupees = 1 Rial. Finally, in the year 1973, Omani Riyal was brought into the financial system.

The Omani Riyal has seen major shifts in its value as it is affected majorly by its location. Since the discovery of oil in 1964, Oman has emerged as a country of great value. By the year 1967, oil production began and with the introduction of OMR, the value kept increasing. The major jump in the value of OMR came after mid-2002 when oil production was at its peak. Presently, OMR is pegged against the US dollar at a fixed rate by the Central Bank of Oman. The rate is pegged at $2.6008 per Riyal. This helps to maintain stability for the OMR. However, the rate keeps fluctuating in terms of other currencies.

The OMR is available in different denominations for transactions. Banknotes denominations are 100 and 200 Baisas, and 1/2, 1, 5, 10, 20, and 50 rials. Coins are available in 5, 10, 25, 50, and 100 Baisas, and 1/4 and 1/2 rials denominations. Introduced by the then king, Sultan Qaboos, all the banknotes and coins have his images portrayed on the front side of the currency.

Factors Affecting the Exchange Rate of Omani Riyal

Omani Riyal has been pegged to the US Dollar and currently, there are no near expectations of lifting the pegging of the Riyal to the Dollar. So, for the US Dollar, the exchange rate of the Riyal is not expected to fluctuate much and stays fixed at 2.6008 Dollars per Riyal. However, for other currencies than the US Dollar, the exchange rate fluctuates. Let's see what impacts the value of the Omani Riyal in the global markets and what makes it an appreciating currency:

1. Oil prices:

The current economy of Oman is highly dependent on oil prices globally. It is one of the leading oil producers and hence, the international trade of oil makes a good profit for the country. Altogether, it helps in raising the exchange rate of the Omani Riyal against other international currencies. However, high dependence on oil is a matter of discussion in the country and Oman is planning to bring in other sectors of the economy under trading to diversify its international profits. Oil may not remain a highly demanding commodity today since the world is moving towards alternatives to oil. So, like other oil-producing countries, Oman is also trying to diversify its trading sector.

2. Exchange rate of US Dollar:

OMR is pegged to the US Dollar and so, the exchange rate of the US Dollar affects the exchange rate of OMR. The rate of exchange of the US Dollar with other currencies of the world changes every now and then, with some being pegged to the US Dollar and some fluctuating on a daily basis. All these in turn also impact the exchange rate of the Omani Riyal since it is also pegged to the US Dollar.

Oil has a significant role in the economy of Oman and so it also has a major impact on the exchange rate of the OMR. Other than the factors mentioned above, the foreign reserve of the country, the price of Omani exports, interest and inflation rate, etc. also affect the exchange rate of the currency. Soon, it is expected that the Omani tourism, logistics, and manufacturing sectors will be expanded to diversify the international trading of Oman.

Quick Facts About Omani Rial (OMR)

Currency Name Omani Rial
Short Name OMR
Nicknames NA
Symbol (s)
Unit 1/1000, baisa
Frequently Used Coins 5 baisa, 10 baisa, 25 baisa, 50 baisa
Rarely Used Coins
Frequently Used Bank Notes 100 baisa, 200 baisa, 0.5 rial, 1 rial, 5 rials, 10 rials, 20 rials, 50 rials
Rarely Used Bank Notes
Central Bank, Name & Website Central Bank of Oman | www.cbo-oman.org
Pitcairn Island - a British Overseas Territory, and Nauru.r:

How to Exchange Currency with Thomas Cook?

Currency Exchange in Other Cities

See More Cities

Why Thomas Cook?

Safe & Secure Transaction
Best Online Rates
Door Step delivery & branch pick up option
Pay Small amount now & block rates

The Omani Rial Currency

Oman’s official currency is in the subdivision of 1000 baisa. The Central Bank of Oman owns its issuance rights. The currency coins that are currently under circulation are in the denominations of baisas 5, 10, 25 and 50. Likewise, for the currency bank notes, the circulation is under the denominations of baisas 100 & 200, and rials 0.5, 1, 5 10, 20 and 50. How to buy foreign exchange online? For the best Forex rates – 1 INR to OMR /Omani Riyal rate, simply check out the Thomas Cook website. Thomas Cook is India’s most reliable money converter, along with being the country’s most trusted tour package provider.
For the best Forex rates1 INR to OMR /Omani Riyal rate, simply check out the Thomas Cook website.

Thomas Cook is India’s most reliable money converter, along with being the country’s most trusted tour package provider.

Currency Rate Today

Currency Name Buy Rate (Card Rate) Sell Rate
View Detailed Rate card

Frequently Asked Questions

How strong is the Omani currency in exchange India rupee?
To find out the current exchange rate between Omani Riyal and Indian Rupee, we suggest you check out the live rate card on our website. In case you have queries pertaining to the same, then please o not hesitate to contact our team of experts.
How much Omani Riyal would I need for a weeklong trip?
This is completely dependent on the nature of your trip and your personal preferences. If you are confused about the expenses that you might have to incur while you are on the trip, then please contact our team of experts and they will guide you with the proceedings.
Is there any specific limit to carry Omani Riyal if I am travelling to Oman?
You may carry up to OMR 6,000, or foreign currency equivalent, in and out of Oman. However, in case the amount you are carrying exceeds the given limit, then you must declare the same.
I have leftover Omani Riyal from my last trip. What should I do?
If you are to travel to Oman any time soon again, we suggest you keep them for the same, and may buy any additional riyals required. However, in case the trip isn’t happening anytime soon then may log on to our website to find out the available exchange rates, and get in touch with our consultants for any expert advice that you may seek before you sell the https://www.thomascook.in/foreign-exchange/australian-dollar.
What currencies can be used in Oman?
We suggest that you exchange the currency at hand to Omani Riyal to enjoy a smooth and hassle-free trip while you are in Oman.

What People are Saying