GK
CURRENCIES OF THE WORLD
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Omani rial
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Omani dirham
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Omani dinar
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Omani lira
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Detailed explanation-1: -The unit of currency in Oman is the Rial Omani which is sub-divided into 1, 000 baisas. Denomination, form and design of the currency notes and coins in circulation are determined with the Approval of the Board of Governors of Central Bank.
Detailed explanation-2: -The OMR is the national currency of the Sultanate of Oman, located on the southeastern coast of the Arabian Peninsula. The Omani rial is made up of 1, 000 baisa. The Central Bank of Oman pegs the value of the Omani rial at $2.6008 (USD).
Detailed explanation-3: -Why does Oman’s currency have such a high value? Oman’s economy is based on oil prices because it is one of the world’s main oil producers. Omani obtains a lot of income in US dollars since oil is valued in USD, and it keeps the money to sustain its high-value currency.