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Oman - 100 Omani Baisa - P-31 - 1995 dated Foreign Paper Money

Inv# FM3051   Foreign Paper Money
Country: Oman
Years: 1995/AH1416

100 Baisa, P-31. The Omani rial is the currency of Oman. It is divided into 1000 baisa. 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. Maria Theresa thaler were valued at 230 paisa, with 64 paisa = 1 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 = 1 rial. The Indian rupee and, from 1959, the Gulf rupee continued to circulate. On 6 June 1966, India devalued the Gulf rupee against the Indian rupee. Following the devaluation, several of the states still using the Gulf rupee adopted their own currencies. 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. Read more at https://en.wikipedia.org/wiki/Omani_rial

Condition: C.U.
Item ordered may not be exact piece shown. All original and authentic.
Price: $5.50