Due to the small size of the Omani economy, the country's monetary policy is quite straightforward. The goal of the Omani Central Bank is to maintain a stable riyal so that the economy can function competitively abroad. The riyal has been pegged to the dollar since 1973. In 1986 the riyal was devalued by 10.2 percent and since then it has been stable at about US$2.60 to 1 riyal.
|Exchange rates: Oman|
|Omani riyals per US$1|
|Note: Currency rates have been fixed since 1986.|
|SOURCE: CIA World Factbook 2001 [ONLINE].|
All the money flowing into the economy is regulated by the Central Bank of Oman. The central bank also regulates the commercial banks through a variety of measures.