16/03/2021: New 5 Rial Polymer Banknote Introduced
A new polymer banknote with a denomination of 5 rials was introduced, enhancing durability and security features of the currency.
15/01/2003: New Omani Rial Banknotes Issued
New series of Omani rial banknotes were introduced, featuring enhanced security features and updated designs.
12/06/1994: Smaller Denomination Coins Issued
Small denomination coins, including 5, 10, 25, and 50 baisa coins, were issued in order to facilitate everyday transactions.
17/03/1986: 200 Baisa Coin Introduced
A new 200 baisa coin was introduced, becoming the highest denomination coin in circulation at that time.
29/09/1977: Decimals Introduced
Chile replaced the escudo with the decimal centavo as the subunit of the peso, simplifying its monetary system.
11/11/1975: 1/8 Rial Copper-Nickel Coin Introduced
A new 1/8 rial coin made of copper-nickel was introduced, representing a fractional value of the rial currency.
29/09/1975: Floating Exchange Rate
Chile moved from a fixed to a floating exchange rate system, allowing the peso to be determined by market forces.
02/03/1973: Rial Oman Pegged to US Dollar
The Omani rial was officially pegged to the United States dollar, with an exchange rate of 1 OMR = 2.895 USD.
27/07/1970: Rial Oman is Introduced
The Omani rial was introduced, replacing the Gulf rupee at a rate of 1 rial = 2.6008 rupees.
02/01/1958: Introduction of Escudo as Subunit
The subunit of 1/100 peso, called the escudo, was introduced to facilitate smaller transactions in Chile.
31/12/1925: Creation of the Central Bank of Chile
The Central Bank of Chile was established, gaining authority over the country's currency issuance and monetary policy.
25/06/1895: Gold Standard Adoption
Chile adopted the gold standard, tying the value of the Chilean Peso to the price of gold and stabilizing its currency.
15/06/1851: First Peso Coinage
The first official peso coins were introduced by the Chilean government, replacing the Spanish colonial currency.
12/02/1817: Chilean Independence
Chile gained independence from Spain, leading to the establishment of the Chilean Peso as its official currency.