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These Banknotes in Oman Will be Discontinued From Circulation

  • Publish date: Tuesday، 09 January 2024
These Banknotes in Oman Will be Discontinued From Circulation

Oman has declared the discontinuation of selected banknotes, as per a circular issued by the Central Bank of Oman (CBO).

The specified denominations will be phased out within a maximum period of 360 days from the circular's date. After December 31, 2024, these banknotes will lose legal tender status.

These Banknotes in Oman Will be Discontinued From Circulation

The affected denominations include banknotes from the fifth issue (1995), upgraded issue (2000), one riyal commemorative banknote (2005), twenty riyals commemorative banknote (2010), upgraded issues of 2011 and 2012, one riyal commemorative banknote, and the upgraded fifty riyals banknote (2019).

The CBO has instructed all banks to accept these banknotes during the stipulated period and replace them with banknotes from the sixth issue. Additionally, institutions and retailers are directed to accept these banknotes from the public and deposit them into the banks operating in the country.