Omani Rial

The Omani rial is the currency of Oman. It is divided into 1000 fils. The rial was first introduced in 1973. The ISO 4217 code for the Omani rial is OMR. The rial is pegged to the US dollar at a rate of 1 US dollar = 0.38450 Omani rial. The Omani rial has been stable since its introduction. It is a freely convertible currency and is widely accepted in the Gulf region. The Omani rial is also used in some other countries, such as Yemen and Iran. The Central Bank of Oman is responsible for issuing the currency. The bank was established in 1974 and is located in the capital city of Muscat. The bank is also responsible for regulating the banking sector and for supervising financial institutions in Oman.