The Fixed Peg of the RO to the US Dollar
Oman is an open and oil dependent economy. Taking into consideration Oman’s economic structure, the high degree of openness, the level of development in the financial markets, the fixed peg policy has been implemented as the preferred exchange rate regime for the country.
Since the last change in parity in 1986, the fixed peg has remained unchanged at USD 2.6008 per RO. Depending on the day to day movements in the exchange rate of the US Dollar in relation to the currencies of other countries, the exchange rates of the RO also changes accordingly.
The fixed peg and the associated stability of the exchange rate has contributed significantly to the congenial atmosphere for promoting trade, investment and growth in Oman. The monetary discipline embodies in the peg has also caused orderly monetary conditions in the system.