• Oman

    • Broad money supply in Oman grows 4.5% to OMR21.5bn

    By on December 23, 2023
    OMR
    OMR

    Muscat: The broad money supply witnessed a growth of 4.5 percent on an annual basis to reach 21.6 billion Omani riyals by the end of September 2023.

    The monthly bulletin issued by the Central Bank of Oman stated that despite the decrease in cash in its narrow sense by 2.9 percent, the increase witnessed in cash in its broad sense is due to the increase in quasi-cash by 7.4 percent, which consists of the sum of savings and time deposits in Omani riyals with certificates of deposit issued by banks, in addition to security margin accounts and all foreign currency deposits with the banking sector.

    The public’s cash at the end of last September recorded a decrease of 0.7 percent, as well as demand deposits by 3.4 percent.

    Regarding the interest rate structure of traditional commercial banks, the weighted average interest rates on deposits in Omani Riyals increased from 1.877 percent in September 2022 to 2.453 percent in September 2023, and the weighted average interest rates on loans in Omani Riyals decreased from 5.416 percent to 5.451 percent during Same period.

    As for the average interest rates in the overnight interbank lending market, they recorded an increase of 5.388 percent in September 2023, compared to 3.151 percent in September 2022.

    This came as a result of the weighted average interest rates on repurchase operations rising to 6 percent compared to 3.22 percent during the same period last year, in line with the policies of the US Federal Reserve.

    more recommended stories

    Terms of Use:

  • This website Arabian Daily is an individual’s property, not used for any commercial or sales purposes. What you see here are one’s random thoughts in action. I, by no means, endorse any product or party through this, unless stated explicitly.
  • All work you will find here is copyrighted unless stated otherwise. No part of this work can be reproduced in any way with the exception of a) if you share our work, it should link back to this website; b) if you quote any part of our work, it should be properly credited to us with a link to this website.
  • All images used on this website have been taken from open source image websites on the Internet. If any of them are copyrighted to you and you want us to take them down or add credits, please feel free to contact us here, or by using the contact form on this page.
  • The views expressed on Arabian Daily are solely ours. They do not represent any party or any particular school of thought. This website does not promote racism in any form.
  • Privacy Policy:
    This website will respect the readers’ and the writer’s privacy. We do not sell any of their personal or contact information to another company. We do not put your information on spam lists. Also, and more importantly, we are not responsible for the privacy practices of any of our advertisers or website commenters.
  • Reserve Rights: We reserve the right to change the focus on this website, to shut it down, sell it or to change the terms of use at our own discretion.