Muscat – The CBO has emphasized the importance of completing this process by December 31, 2024. After this date, these older banknotes will no longer be considered legal tender.
The CBO emphasized the need for public cooperation to ensure a smooth transition and to avoid any last-minute rush or inconvenience.
As per the circular issued by the CBO on January 7, 2024, the affected banknotes include:
• Banknotes of the fifth issue from 1995
• Banknotes of the upgraded issue from 2000
• One rial commemorative banknotes from 2005
• Twenty rial commemorative banknotes from 2010
• Banknotes from the upgraded issues of 2011 and 2012
• One rial commemorative banknotes from 2020
• Upgraded fifty rial banknotes from 2019
The CBO has set a maximum period of 360 days from the circular’s date for these denominations to be exchanged. After December 31, 2024, these banknotes will no longer be in circulation and will hold no legal tender value.