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Like its middle east cousins, the Omani Rial is highly valued against the US dollar and currently ranks the third most expensive currency in the world, just behind the Kuwaiti Dinar and the Bahraini Dinar. This ranking is unlikely to change in the medium, as the Omani Rial (OMR) is pegged against the US dollar and well supported by the Oman Central Bank.

Currently, 1 Omani Rial (OMR) = 2.5974 US dollars (USD), or 1 USD compared against 0.3845 Omani Rial.

There are many benefits of pegging the Omani Rial against the US Dollar. For one, this pegs prevents fluctuations and speculations which the country cannot afford. In addition, Oman has the necessary reserves to prevent just that. Finally, having the peg frees important government resource into more growth areas like interior development and in specific, further redefining the usage of oil money (more…)

The Bahraini Dinar (BHD) is the 2nd highest valued currency unit in the world, next to the Kuwaiti Dinar. Despite the turbulent financial crisis that engulfed all nations, the Bahraini is able to retain its no. 2 position because of a fixed pegging. One Bahraini is pegged at about 2.65259 US Dollar, or 1 US Dollar (USD) compared against 0.376 Bahraini Dinar (BHD).

In practicality however, you will not be able to use the Bahraini dinar (more…)