Prior to 1940, the Indian Rupee was used along Oman’s coast and the Maria Teresa Thaler circulated in the interiors. In fact, in 1890, ½ and ¼ anna was specifically minted for circulation in Sultanate of Muscat and Oman by ruler Faisal bin Turki. Maria Theresa Thaler was valued at 230 paisa with 64 paisa equal to the rupee. In 1940, coins were introduced for Dhofar region followed by coins for Sultanate of Oman. Both coinages were denominated by Oman Baisa with 200 baisa being equal to one Omani rial. However, the Indian and Gulf rupee continued to circulate.
In 1970, the rial Saidi was made the currency of Oman. It was equal to the British pound and replaced the Gulf rupee at 21 rupees to the rial. The new Omani rial was subdivided into 1000 baisa. In 1973 the Omani rial replaced the rial Saidi at par. The 1970 Oman coins were issued in 2, 5, 10, 25, 50 and 100 baisa denominations. In 1975, new coins were introduced with the country's name given as Oman. Quarter and half rial coins were introduced in 1980.