CBO foreign assets increase by 27.4 per cent
Published: 01:10 PM,Oct 02,2023 | EDITED : 11:10 AM,Oct 03,2023
MUSCAT: The total foreign assets of the Central Bank of Oman (CBO) increased by 27.4 per cent to reach RO 6.855 billion by end of July 2023, compared to end of July 2022, amounting to about RO 5.382 billion, according to data issued by the National Centre for Statistics and Information (NCSI).
Initial data issued by NCSI indicated that local liquidity amounted to RO 21.362 billion, an increase of 4.9 per cent compared to the same period in 2022.
The total cash issued at the end of last July recorded RO 1.654 billion, a decrease of 2.3 per cent compared to the same period in 2022, which amounted to RO 1.693 billion.
The narrow money supply, which consists of total cash outside the banking system in addition to current accounts and demand deposits in local currency, decreased by 5.1 per cent to reach RO 5.599 billion, compared to RO 5.898 billion at end of July 2022.
On the other hand, private sector deposits in commercial banks and Islamic windows at end of July 2023 amounted to about RO 18.168 billion, an increase of 6.5 per cent compared to the same period in 2022, amounting to about RO 17.066 billion.
The total loans and financing in commercial banks and Islamic windows increased by 8.7 per cent to reach RO 30.272 billion by July-end, compared to RO 27.860 billion, while the average interest rate on total loans decreased by 0.8 per cent and was recorded at rate of 5.397 per cent.
The effective exchange rate index for the Omani riyal stabilised at 113.8 points by end of July 2023. — ONA
Initial data issued by NCSI indicated that local liquidity amounted to RO 21.362 billion, an increase of 4.9 per cent compared to the same period in 2022.
The total cash issued at the end of last July recorded RO 1.654 billion, a decrease of 2.3 per cent compared to the same period in 2022, which amounted to RO 1.693 billion.
The narrow money supply, which consists of total cash outside the banking system in addition to current accounts and demand deposits in local currency, decreased by 5.1 per cent to reach RO 5.599 billion, compared to RO 5.898 billion at end of July 2022.
On the other hand, private sector deposits in commercial banks and Islamic windows at end of July 2023 amounted to about RO 18.168 billion, an increase of 6.5 per cent compared to the same period in 2022, amounting to about RO 17.066 billion.
The total loans and financing in commercial banks and Islamic windows increased by 8.7 per cent to reach RO 30.272 billion by July-end, compared to RO 27.860 billion, while the average interest rate on total loans decreased by 0.8 per cent and was recorded at rate of 5.397 per cent.
The effective exchange rate index for the Omani riyal stabilised at 113.8 points by end of July 2023. — ONA