Muscat: The Central Bank of Oman (CBO) has raised the interest rate on repurchase operations for local banks to the same extent as the increase set by the US Federal Reserve, which is 25 basis points to 50.5 percent.
The last time, the CBO raised the interest rate in the Federal Reserve was in February.
The Central Bank of Oman’s monetary policy target is to sustain and maintain its fixed exchange rate.
This policy is aligned with the structure and nature of the Omani economy. There are a number of advantages for the Sultanate of Oman that are derived from this policy among which are the stability of the Omani Rial, mitigation of capital outflow, and promotion of certainty among investors by removing exchange rate risk.
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