As of the end of September 2023, the local liquidity in the Sultanate of Oman exceeded 21.6 billion Omani rials, according to statistics released by the National Center for Statistics and Information. This represents an increase of 4.5 per cent compared to the same period in 2022.
The preliminary data from the center indicates a 0.7 per cent increase in the total money supply, reaching 1,617.5 billion Omani rials by the end of September 2023, compared to 1,606.9 billion Omani rials at the end of September 2022.
The narrow money supply (M1), which includes the total cash outside the banking system, current accounts, and demand deposits in the local currency, decreased by 2.9 per cent, amounting to 5,674.3 billion Omani rials compared to 5,841.9 billion Omani rials at the end of September 2022.
Total foreign assets at the Central Bank of Oman decreased by 0.7 per cent, reaching 6,203.1 billion Omani rials at the end of September 2023, compared to 6,249.4 billion Omani rials at the end of September 2022.
Private sector deposits in commercial banks and Islamic windows at the end of September 2023 amounted to approximately 18,387.2 billion Omani rials, showing a 6.3 per cent increase compared to the same period in 2022 when private sector deposits were 17,302.4 billion Omani rials.
The total loans and financing provided by commercial banks and Islamic windows at the end of September 2023 increased by 5.7 per cent, reaching 30,435.7 billion Omani rials compared to 28,784.4 billion Omani rials. The average interest rate on total loans increased by 0.7 per cent, reaching 5.452 per cent at the end of September 2023.
The real effective exchange rate of the Omani rial decreased by 0.7 per cent at the end of September 2023, reaching 117.4 points.
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