All Oman banknotes issued before 2020 will cease to be legal tender and will be demonetized on December 31, 2024, according to the Central Bank of Oman (CBO). After this date, the notes are no longer exchangeable.

The bank’s decision to phase out the old currency follows a period of exchanging old currency for Oman’s new family of currency, issued in 2020 and 2021.

Which banknotes will cease to be legal tender?

The banknotes affected include all denominations with issuance dates before 2020.

The Oman banknotes displayed above will be removed from circulation.

The banknotes to be removed from circulation include the following:

Year Issued      Denomination(s)

1995                100 and 200 baisa 

                        ½ ,1 and 5 rials

2000                5, 10, 20 and 50 rials

2005                1 rial

2010                5 rials

2015                1 rial

2019                50 rials

Commemorative notes (1, 10, 20 and 50 rials)

A one-year period to redeem the old banknotes

The demonetized banknotes will be redeemable for one year, until December 31, 2025. According to the CBO, the old banknotes can be exchanged at banks operating in the Sultanate of Oman.

Sources/References:

Central Bank of Oman

MRI Guide Bankers’ Guide to Foreign Currency

CentralBanking.com

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