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.
18/03/2020: COVID-19 pandemic impact
The Australian dollar experienced a sharp decline due to the global economic impact of the COVID-19 pandemic and uncertainty in financial markets.
13/10/2011: Record high exchange rate
The Australian dollar reached a record high exchange rate of above $1.10 against the US dollar, driven by strong commodity demand and high interest rates.
06/10/2008: Global Financial Crisis
The Australian dollar experienced a significant decline due to the impact of the global financial crisis, reaching a low point of around $0.60 against the US dollar.
15/01/2003: New Omani Rial Banknotes Issued
New series of Omani rial banknotes were introduced, featuring enhanced security features and updated designs.
30/06/1996: Introduction of the polymer banknotes
Australia introduced polymer banknotes, replacing the paper-based banknotes, enhancing their durability and security features.
12/06/1994: Smaller Denomination Coins Issued
Small denomination coins, including 5, 10, 25, and 50 baisa coins, were issued in order to facilitate everyday transactions.
17/03/1986: 200 Baisa Coin Introduced
A new 200 baisa coin was introduced, becoming the highest denomination coin in circulation at that time.
08/03/1983: Floating of the Australian dollar
The Australian dollar was fully floated and allowed to fluctuate freely on the foreign exchange market, leading to increased volatility.
11/11/1975: 1/8 Rial Copper-Nickel Coin Introduced
A new 1/8 rial coin made of copper-nickel was introduced, representing a fractional value of the rial currency.
02/03/1973: Rial Oman Pegged to US Dollar
The Omani rial was officially pegged to the United States dollar, with an exchange rate of 1 OMR = 2.895 USD.
12/12/1971: End of the fixed exchange rate
Australia shifted from a fixed exchange rate to a flexible exchange rate, allowing market forces to determine the value of the Australian dollar.
27/07/1970: Rial Oman is Introduced
The Omani rial was introduced, replacing the Gulf rupee at a rate of 1 rial = 2.6008 rupees.
13/02/1966: Decimalisation of the Australian currency
Australia adopted decimal currency, replacing the pound with the Australian dollar, symbol 'A$'.