Wednesday 05 / February / 2025
Muscat: The effective exchange rate of the Omani rial increased by 3.8 percent to 115.2 points at the end of May 2023 compared to 111 points at the end of May 2022, according to statistics issued by the National Center for Statistics and Information (NCSI).
The total foreign assets of the Central Bank of Oman (CBO) increased by 0.9 percent to OMR6.76 billion at the end of May 2023, compared to OMR6.70 billion at the end of May 2022.
The preliminary data issued by the NCSI indicated that the local liquidity increased by 4.5 percent to OMR21.28 billion at the end of May 2023 compared to the same period in 2022.
The total cash supply decreased by 3.7 percent to OMR1.65 billion at the end of May 2023 compared to OMR1.72 billion at the end of May 2022.
The money supply in the narrow sense (M1), which consists of total cash outside the banking system, in addition to current accounts and demand deposits in local currency, increased by 1.1 percent to OMR5.84 billion at the end of May 2023 compared to OMR5.78 billion at the end of May 2022.
On the other hand, private sector deposits in commercial banks and Islamic windows rose by 4.3 percent to about OMR17.89 billion at the end of May 2023 over the same period in 2022 which was at OMR17.15 billion.
Total loans and financing in commercial banks and Islamic windows increased by 6.4 percent while the average interest rate on total loans decreased by 0.9 percent.
