The Omani rial (Arabic: ريال, ISO 4217 code OMR) is the currency of Oman.

[citation needed] Until 1940, the Indian rupee and the Maria Theresa thaler (known locally as the rial due to its similar size to the Spanish eight-real coin) were the main currencies circulating in Muscat and Oman, as the state was then known, with Indian rupees circulating on the coast and thaler in the interior.

Oman continued to use the Gulf rupee until 1970, with the government backing the currency at its old peg to the pound, when it adopted the Saidi rial.

On 7 May 1970[7][8] the Saidi rial (named after the House of Al Said, not to be confused with Saudi riyal) was introduced as the currency of Oman to replace the Gulf rupee.

It was equal to the British pound sterling and 1 Saidi rial = 21 Gulf rupees.

In the 1890s, coins for 1⁄12 and 1⁄4 anna (1⁄3 and 1 paisa) were minted specifically for use in Muscat and Oman.

[11] On 7 May 1970, the Sultanate of Muscat and Oman issued banknotes in denominations of 100 baisa, 1⁄4, 1⁄2, 1, 5 and 10 rial saidi.

[12] These were followed by notes for 100 baisa, 1⁄4, 1⁄2, 1, 5 and 10 Omani rials issued by the Oman Currency Board on 18 November 1972.

The 5- to 50-rial banknotes of the 1995 series with foil strips, released into circulation from 2000, remained valid.

In 2020, a new series of banknotes from 100 baisa to 50 rials was released, with Sultan Haitham bin Tariq on the obverse.