Muscat: The Central Bank of Oman (CBO) announced a discontinuation of specific banknote denominations. The Central Bank of Oman announced the end of the use of some categories of banknotes in the country.
The affected notes are those launched prior to the sixth issue of 2020, with issuances ranging from November 1995 to 2019. The affected notes are the following:
1- Omani banknotes in denominations of OMR 1,500 baisas, 200 baisas, and 100 baisas issued by the Central Bank of Oman in November 1995.
2- Denominations of OMR 50 , OMR 20 , OMR 10 and OMR 5 issued by the Central Bank of Oman in November 2000.
3 – Denomination of OMR 1 commemorative, issued for the year 2005.
4 – Commemorative OMR 20 denomination , issued for the year 2010.
5- Denominations of OMR 50, OMR 10, and OMR 5 issued by the Central Bank of Oman in the years 2011 and 2012.
6- Denomination of OMR 1 commemorative, issued for the year 2015 .
7- Denomination of OMR 50, issued for the year 2019.
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These banknotes will cease to be recognized as legal currency after a 360-day duration from the announcement. It will then be considered an illegal and non-negotiable currency:
‘Anyone who owns the aforementioned banknotes and wishes to exchange them must do so. Note that these currencies will become unusable and not cleared of liability as legal currency after the expiration of the period referred to,’ a statement said.
The CBO urged all individuals in possession of these notes to exchange them within the designated timeframe.
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