About the AUD/OMR rate
The AUD/OMR rate is how many OMR one Australian dollar buys. It moves constantly with interest-rate expectations, commodity prices and global risk sentiment - see what moves the rate. Tradergy shows the mid-market reference rate and does not forecast where it’s heading. For the 52-week highs and lows and a daily table, see the AUD/OMR rate history.
The other directions of this rate: the reverse rate, OMR → AUD, is on the receiving Omani rial view, and sending Australian dollars to Oman is covered on the AUD → OMR transfer page. Every AUD pair sits on the convert hub, and to work in more than one currency at once there is the currency converter.
Why Oman chose a fixed rate
The Central Bank of Oman gives its reasoning before it gives its number. Oman, it says, is an open and oil dependent economy, and taking that structure into account along with the degree of openness and the level of development in the financial markets, the fixed peg has been implemented as the preferred exchange rate regime for the country. The argument is about what the economy can absorb.
The number that follows is stated in a direction most central banks avoid. Since the last change in parity in 1986, the Bank writes, the fixed peg has remained unchanged at USD 2.6008 per rial, expressing the rate as dollars per unit rather than units per dollar. The International Monetary Fund records the same arrangement from the opposite side, at 0.3845 rial to the dollar since 1986, and its 2024 Article IV consultation describes the peg as remaining a credible policy anchor.
Fixing against one currency is a decision about every other one. The Bank notes that the rial's exchange rates against other countries' currencies change according to the day-to-day movements of the US dollar against them, which is the arrangement working as designed. Its stated return on that trade is a stability it credits with promoting trade, investment and growth, and with producing orderly monetary conditions in the system.
Four decades without a change is a claim on reserves as much as on policy. The Fund put central bank reserves at US$17.5 billion in 2023, equal to 4.1 months of import coverage and 29 per cent of broad money, and attributed their stabilisation chiefly to foreign direct investment inflows and a current account surplus.
Sources: Central Bank of Oman, the fixed peg of the rial Omani to the US dollar · International Monetary Fund, Oman 2024 Article IV Consultation (Country Report No. 25/13)