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...
Currency Authority in 1970 and the Oman Currency Board in 1972), were not vested with full banking status, but, they had well prepared the ground for the emergence of the Central Bank of Oman. (CBO 2012)Before 1970 Oman used Indian rupees as its currency. But in 1970 Oman introduced its...