100 OMANI BAISA KITNA HOTA HAIN - OMAN BAISA PAKISTAN VALUE - OMAN BAISA 100 IN PAKISTANI RUPEES

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In this video, I will be explaining the difference between Omani Rial and Omani Baisa wrt the Pakistani Rupee.

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The Omani rial (Arabic: ريال‎, ISO 4217 code OMR) is the currency of Oman. It is divided into 1000 baisa (also written baisa, بيسة).

From 1973 to 1986, the rial was pegged to the U.S. dollar at 1 Omani rial = US$2.895. The rate was changed in 1986 to 1 Omani rial = US$2.6008, which translates to approximately US$1 = 0.384497 rial. The Central Bank of Oman buys U.S. dollars at 0.384 Omani rial, and sell U.S. dollars at 0.385 Omani rial. It is the third-highest-valued currency unit after the Kuwaiti dinar and the Bahraini dinar.

In 1940, coins were introduced for use in Dhofar, followed, in 1946, by coins for use in Oman. Both coinages were denominated in baisa (equivalent to the paisa), with 200 baisa = 1 rial. The Indian rupee and, from 1959, the Gulf rupee continued to circulate. On 6 June 1966, India devalued the Gulf rupee against the Indian rupee. Following the devaluation, several of the states still using the Gulf rupee adopted their own currencies. Oman continued to use the Gulf rupee until 1970, with the government backing the currency at its old peg to the pound, when it adopted the rial Saidi.

In 1970, the rial Saidi (named after the House of Al Said, not to be confused with Saudi riyal) was introduced as the currency of Oman to replace the Gulf rupee. It was equal to the British pound sterling and 1 rial Saidi = 21 Gulf rupees. The rial Saidi was subdivided into 1000 baisa. The Omani rial replaced the rial Saidi at par in 1973. At that time, the currency became pegged to the US dollar at 1 Omani rial = US$2.895, instead of the pound sterling, a rate that would continue until 1986, when it was devalued by about 9% to 1 Omani rial = US$2.6008.

Source: Wikipedia
Link: https://en.wikipedia.org/wiki/Omani_rial

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