Foreign Exchange

Oman has no restrictions or reporting requirements on private capital movements into or out of the country. The Omani Rial is pegged to the dollar at a rate of $1 equals 0.3849 Omani Rials. The Rial was devalued in 1986 due to the collapse in oil prices. There is no difficulty in obtaining foreign exchange. By the end of 2001, Oman implemented a new law for the prevention of money laundering.

The only exchange control authority in Oman is the central bank. There are no exchange control regulations.