Omani Rial / Turkish Lira

OMR/TRY shows the Turkish lira value of the rial, the currency of the Sultanate of Oman. The Omani rial is managed by the Central Bank of Oman; its subunit is called the baisa. Because of its high unit value, one rial corresponds to a relatively large figure in Turkish lira. The rial's link to the US dollar resembles the exchange rate regime seen in many Gulf countries.

The Omani rial is tied to the US dollar at a fixed rate, and this link has been kept unchanged for many years. As a result, almost all of the movement in OMR/TRY comes from USD/TRY. Oman's economy relies on oil and natural gas income; the country is pursuing long-term programs to diversify its economy in areas such as tourism, logistics and manufacturing.

Oil prices, Oman's budget balance and Fed interest rate policy are the topics watched in the background of the fixed exchange rate regime. Lzzo.com shows a cross reference rate for OMR/TRY calculated from market exchange rates; it is not a bank or exchange office price.