Oman to withdraw selected currency denominations by end of December

The Central Bank of Oman (CBO) has announced that specific denominations of the national currency will be withdrawn from circulation and rendered invalid after December 31, 2024.

The affected denominations include banknotes from the fifth issue (1995), amended banknotes from 2000, commemorative OMR 1 (2005), and OMR 20 (2010) banknotes.

Others are the amended banknotes from 2011 and 2012, commemorative OMR 1 banknote (2015), and amended OMR 50 banknote (2019).

Also Read: Three dead, dozens hospitalized after consuming endangered sea turtle in Philippines

The CBO has instructed all banks operating in Oman to accept these notes and facilitate their replacement with banknotes from the sixth issue.

Additionally, businesses and institutions in Oman are required to accept these notes from customers and deposit them with local banks.

The initiative aims to streamline currency circulation and ensure a smooth transition to the newer banknotes within the stipulated timeframe.