• Oman

    • Oman Domestic Liquidity Exceeds RO 23 Billion by end of 2023

    By on March 9, 2024
    OMR
    OMR

    Oman’s Domestic Liquidity up by 13.2% to reach RO 23.18 Billion

    Muscat: Domestic liquidity in the Sultanate of Oman increased by 13.1 percent to reach RO 23.18 billion by the end of 2023 compared to the same period in 2022, according to preliminary statistics issued by the National Center for Statistics and Information.

    The data indicated a decrease in the total cash issued by 1.4 percent, recording one billion and 589 million Omani riyals by the end of 2023, compared to one billion and 611 million and 500 thousand Omani riyals by the end of 2022.

    On the other hand, the money supply in its narrow sense, which consists of the total cash outside the banking system in addition to current accounts and demand deposits in the local currency, increased by 6.6 percent, recording 5 billion and 981 million and 100 thousand Omani riyals, compared to 5 billion and 611 million and 500 thousand Omani riyals at the end of 2022.

    The total foreign assets of the Central Bank of Oman also increased by 0.1 percent to reach the value of 6 billion, 734 million and 100 thousand Omani riyals by the end of 2023, compared to the end of 2022, which amounted to 6 billion, 727 million and 500 thousand Omani riyals.

    As for private sector deposits in commercial banks and Islamic windows by the end of 2023, they amounted to 19 billion and 205 million and 100 thousand Omani riyals, recording an increase of 10.6 percent over the same period in 2022, amounting to 17 billion and 360 million Omani riyals.

    The total loans and financing in commercial banks and Islamic windows by the end of 2023 witnessed an increase of 4.3 percent to reach 30 billion, 475 million and 600 thousand Omani riyals, compared to 29 billion, 223 million and 200 thousand Omani riyals in 2022.

    The average interest rate on total loans increased by 2.5 percent, as it was recorded at the end of In 2023, a rate of 5.513 percent, while the actual exchange rate index for the Omani riyal rose by 1.3 percent at the end of last year to reach 114.3 points.

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