Oman’s Domestic Liquidity Exceeds RO 21.6 Billion by September 2023

Muscat: The total domestic liquidity increased by 4.5% by the end of September 2023 to stand at RO 21,682.3 bln compared to the same period in 2022, according to statistics issued by the National Center for Statistics and Information (NCSI).

Initial data issued by the NCSI indicated an increase in the total cash issued in Oman by 0.7 percent to reach 1.66 billion at the end of September 2023, compared to RO 1.60 billion at the end of September 2022.

Narrow money supply (M1), decreased by 2.9 percent to reach RO 5.6 billion compared to 5 .8 billion at the end of September. 2022.

The total foreign assets of the Central Bank of Oman decreased by 0.7 percent, recording at the end of September 2023 a value of 6 billion 203 million and 100 thousand Omani riyals compared to the end of September 2022, when the total foreign assets at that time amounted to 6 billion 249 million and 400 thousand Omani riyals.

Private sector deposits in commercial banks and Islamic windows by the end of September 2023 amounted to about 18 billion, 387 million and 200 thousand Omani riyals, an increase of 6.3 percent over the same period in 2022, which witnessed private sector deposits of 17 billion, 302 million and 400 thousand Omani riyals.

The total loans and financing in commercial banks and Islamic windows increased by the end of September 2023 by 5.7 percent to reach 30 billion, 435 million and 700 thousand Omani riyals, compared to 28 billion, 784 million and 400 thousand Omani riyals.

The average interest rate on total loans increased by 0.7 percent, as it was recorded in At the end of September 2023, a rate of 5.452 percent. The effective exchange rate index for the Omani riyal decreased by 0.7 percent at the end of September 2023 to reach 117.4 points.