Muscat: On Sunday, January 7, 2024, the Central Bank of the Sultanate of Oman (CBO) released a circular announcing the discontinuation of specific denominations of the national currency. These denominations will be removed from circulation and will no longer be valid after December 31, 2024.
The denominations affected include:
- Banknotes from the fifth issue of 1995
- Banknotes from the amended issue of 2000
- The (OMR 1 Commemorative) banknote issued in 2005
- The (OMR 20 Commemorative) banknote issued in 2010
- Banknotes from the amended issues of 2011 and 2012
- The (OMR 1 Commemorative) banknote issued in 2015
- The amended (OMR 50) banknote from 2019
To ensure a smooth transition, the Central Bank of Oman has instructed all banks within the Sultanate to accept these denominations and exchange them for banknotes from the sixth issue during the designated timeframe.
Additionally, all institutions and commercial entities in Oman are required to accept these denominations from the public and subsequently deposit them with local banks.
