New Delhi: Prime Minister Narendra Modi is on the last leg of his multi-nation tour that includes Jordan, Ethiopia and Oman. As part of his four-day itinerary, he is concluding journey today (December 18) from Oman. For Indians, the Gulf nation holds a unique financial edge as its currency, the Omani Rial (OMR), is much stronger than the Indian Rupee and even surpasses the US Dollar in value.

According to a report by Vice.com, 1 Omani Rial is equivalent to Rs 236. To put this in perspective, an individual earning 500 OMR would convert that into roughly Rs 1,18,000 in India. This explains why many Indians working in Oman are able to provide substantial financial support to their families back home.

Why The Omani Rial Is So Strong

The strength of the Omani Rial is backed by several factors. The country is rich in oil and natural gas, which form the backbone of its economy. It also maintains a stable economic environment and a healthy foreign exchange reserve.

Another important factor is its relatively small population along with high per capita income. This combination of low population and strong revenue has helped Muscat keep its currency both stable and powerful.

Stronger Than The US Dollar

Many may be surprised to learn that the Omani Rial is valued higher than the US dollar. At present, 1 OMR equals 2.60 USD. Only a handful of currencies worldwide surpass the US dollar in strength, and the Omani Rial is one of them.

A Large Indian Community In Oman

Oman hosts one of the largest Indian expatriate populations in the world. According to India’s Ministry of External Affairs, around 781,000 Indians live in the country. They are not only contributing to Oman’s economy, they have also become an integral part of its social and cultural fabric.

Sectors That Employ Indians

Indian expatriates in Oman are primarily employed in construction, industrial, service and trade sectors. In addition, a large number work in IT, healthcare, business and education.

Oman also attracts many Indian students pursuing higher education, reflecting the country’s growing appeal as a professional and academic hub.