The Omani rial is the currency of Oman, a country located in the Middle East. It is abbreviated as OMR and its symbol is ﷼. One Omani rial is divided into 1,000 baisa. The Omani rial has been the official currency of Oman since 1970 when it replaced the Gulf rupee. It is one of the most valuable currencies in the world, with an exchange rate that is typically higher than that of the US dollar or the Euro.