Oman’s Total Domestic Liquidity grows by RO 2.1bln

OMR
OMR

Oman’s Total Domestic Liquidity grows by RO 2.1bln

Muscat: Data released by the National Centre for Statistics and Information (NCSI) showed that domestic liquidity in the Sultanate of Oman grew by RO 2.1 billion to RO 22,374.4 million by the end of November 2023, posting an increase of 10.3 percent, compared to the corresponding period in 2022.

NCSI data also indicated that total currency issued declined by 3.6 percent to RO 1,588.1 million by the end of November 2023, compared to RO 1,646.6 million during the corresponding period in 2022.

Meanwhile, narrow money supply (M1) grew by 2.5 percent to RO 5,769.2 million by the end of November 2023 compared to RO 5,627.7 million during the corresponding period in 2022.

The total foreign assets at the Central Bank of Oman (CBO) also went up by 3.7 percent to RO 6,516.2 million by the end of November 2023, compared to RO 6,282.9 million during the corresponding period in 2022.

Private sector deposits at commercial banks and Islamic banking windows stood at RO 18,904.2 million by the end of November 2023 posting an increase of 9.2 percent over the figure of the corresponding period in 2022 (RO 17,316.0 million).

In addition, total loans and funding in commercial banks and Islamic banking windows grew by 5.8 percent by the end of November 2023 to RO 30,878.4 million compared to RO 29,188.7 million.

The average interest rate on total loans increased by 2.1 percent to record 5.485 percent by the end of November 2023. Likewise, the actual exchange rate index for the Omani riyal rose by 1.4 percent by the end of November 2023 to 115.7 points. – ONA

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