Oman to withdraw some banknotes from circulation
Deadline set for exchange of old banknotes, 360 days to swap preceding issues
Dubai: The Central Bank of Oman has officially announced the withdrawal of certain banknotes from circulation, with a stipulated period of 360 days for their exchange, starting from January 2024.
The affected banknotes include all issues preceding the 6th issue. These banknotes will cease to be legal tender post-December 31, 2024, which is the final date for their exchange.
To assist the public with the transition, the Central Bank of Oman has designated its branches in Ruwi, Sohar, and Salalah, along with other participating banks throughout the Sultanate, as exchange points.
Residents and banknote holders are urged to take prompt action to exchange their old banknotes before the end of 2024. After the December 31 deadline, these notes will no longer be accepted in any transactions and will not be exchangeable at any financial institutions within Oman.
The proactive measure is aimed at ensuring the integrity and security of the Omani currency system while minimising potential disruptions to commerce and daily transactions.