BUSINESS REPORTER
MUSCAT, APRIL 8
The effective exchange rate index of Omani rial increased by 5.5 per cent to record 112.5 points as of end of January 2023, compared to 106.6 points in the same period in 2022.
The Sultanate of Oman registered a decrease in narrow money supply (M1) — which consists of total cash outside the banking system, in addition to current accounts and demand deposits in local currency — by 3.1 per cent to reach RO 5.577 billion at the end of January 2023 compared to RO 5.758 billion in 2022, according to data released by the National Centre for Statistics and Information (NCSI).
Meanwhile, the total currency issued until the end of January 2023 stood at RO 1.6 billion against RO 1.69 billion issued last year, recording a decrease of 5.3 per cent.
The foreign assets of the Central Bank of Oman (CBO), decreased by 15.1 per cent, reaching RO 6.25 billion at the end of January 2023 compared to RO 7.58 billion during the same period in 2022.
The total private sector deposits with commercial banks and Islamic windows increased by 1.5 per cent, to reach RO 17.53 billion at the end of January 2023, compared to RO 17.268 billion during the same period in 2022.
The total loans and financing in commercial banks and Islamic windows increased by 5 per cent, to reach RO 29.35 billion at the end of January 2023, compared to RO 27.95 billion during the same period in 2022.
The average interest rate on loans in Omani rials decreased from 5.504 per cent at the end of January 2022 to 5.306 per cent by the end of January 2023.
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