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Oman to soon withdraw some banknotes from circulation

Oman to soon withdraw some banknotes from circulation

Oman to soon withdraw some banknotes from circulation

Dec 03, 2024

Muscat: The Central Bank of the Sultanate of Oman(CBO) had issued a circular on Sunday, January 7, 2024, announcing the termination of certain denominations of the national currency. These denominations will be withdrawn from circulation and deemed invalid after December 31, 2024.

The affected denominations include:

Banknotes from the fifth issue of 1995

Banknotes from the amended issue of 2000

The (OMR 1 Commemorative) banknote of 2005

The (OMR 20 Commemorative) banknote of 2010

Banknotes from the amended issue of 2011 and 2012

The (OMR 1 Commemorative) banknote of 2015.

The amended (OMR 50) banknote of 2019

To facilitate the transition, the Central Bank of Oman has directed all banks operating in the Sultanate to accept these denominations and replace them with banknotes from the sixth issue during the specified period.

Furthermore, all institutions and commercial establishments in Oman are instructed to accept these denominations from the public and subsequently deposit them with local banks.