Omani rial exchange rate index rises 5% at the end of March 2023

By News Desk on June 11, 2023

OMR

Muscat: The effective exchange rate index of the Omani Rial rose by 5% to 113.7 points by the end of March 2023, compared to 108.3 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 statistics showed that local liquidity grew by RO 503 million (2.4%) to reach RO 21,052.6 million.

The total currency issued by the end of march 2023 declined by 5.2% to reach RO 1,632.4 million compared to RO 1,722.1 million by the end of the corresponding period in 2022.

Narrow Money Supply (M1) went up by 0.3% to reach RO 6,027.1 million compared to RO 6,007.2 million during the same period in 2022.

Meanwhile, the total foreign assets at the Central Bank of Oman (CBO) decreased by 10.7% by the end of March 2023 to stand at RO 6,476.5 million compared to RO 7,251.7 million during the same period in 2022.

The private sector’s deposits in commercial banks and Islamic windows in the Sultanate of Oman rose by 1.4% to reach RO 17,731.8 million at the end of March 2023 compared to RO 17,491.8 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 6.9% to reach RO 29,899.1 million by the end of March 2023 compared to RO 27,956.5 million during the corresponding period in 2022. The average interest rate on total credit declined by 1.9% at the end of March 2023. – ONA

#Exchange Rate #local liquidity #Narrow Money #Supply economy omani rial

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