Sultanate denies reports on deposits

MUSCAT: The Sultanate dismissed the news circulated by media that it is negotiating with Gulf Arab states to secure a multi-billion-dollar deposit in its central bank that would boost its foreign exchange reserves and head off any pressure on the rial, according to a statement issued by the Ministry of Finance. The statement added that the news published by Reuters that the Sultanate is negotiating with Gulf Arab states to secure a multi-billion-dollar deposit is false and that there have not been any negations to secure a multibillion worth deposit. The statement affirmed that the Sultanate has enough reserves and that the value of the Omani rial does not face any risks. — ONA