• Oman

    • Omani Rial Exchange Rate Index Rises 1.6 Percent by June 2023

    By on August 27, 2023
    OMR
    OMR

    Muscat: The effective exchange rate index of the Omani Rial rose by 1.6% to 115.3 points by the end of June 2023, compared to 113.5 points at the end of the same period in 2022, according to the data issued by the National Centre for Statistics and Information (NCSI).

    The total foreign assets at the Central Bank of Oman (CBO) increased by 3% by the end of June 2023 to stand at RO 6,586.8 million compared to RO 6,392.3 million during the same period in 2022. The statistics showed that local liquidity grew by 3.4% to reach RO 21,479 million.

    The total currency issued by the end of June 2023 also rose by 1.9% to reach RO 1,765.8 million compared to RO 1,733 million by the end of the corresponding period in 2022. Narrow Money Supply (M1) went down by 4.6% to reach RO 5,786.6 million compared to RO 6,065.2 million during the same period in 2022.

    Meanwhile, the private sector’s deposits in commercial banks and Islamic windows in the Sultanate of Oman rose by 2.7% to reach RO 17,999 million at the end of June 2023 compared to RO 17,524.1 million during the same period in 2022.

    The total loans and financing in commercial banks and Islamic windows in the Sultanate of Oman increased by 6.5% to reach RO 30,272.2 million by the end of June 2023 compared to RO 28,416.8 million during the corresponding period in 2022. The average interest rate on total credit declined by 1.2% at the end of June 2023. – ONA

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