MUSCAT: Local liquidity in the Sultanate of Oman increased by RO 2.1 billion, reaching RO 22.374 billion by the end of November 2023, with a growth rate of 10.3% compared to the same period in 2022, according to preliminary statistics issued by the National Centre for Statistics and Information (NCSI).
The NCSI data indicated a decrease in the total issued cash by 3.6%, recording RO RO 1.588 billion at the end of November 2023, compared to RO 1.646 billion at the end of November 2022.
On the other hand, the narrow money supply, known as M1, which includes the total cash outside the banking system, in addition to current accounts and demand deposits in the local currency, increased by 2.5%, recording RO 5.769 billion compared to RO 5.627 Rials at the end of November 2022.
Furthermore, the total foreign assets at the Central Bank of Oman increased by 3.7%, reaching RO 6.516 billion at the end of November 2023, compared to RO 6.282 billion recorded at the end of November 2022.
Private sector deposits in commercial banks and Islamic windows reached RO 18.904 billion by the end of November 2023, with a 9.2% increase compared to the same period in 2022, when it was RO 17.316 billion.
The total loans and financing in commercial banks and Islamic windows also increased by 5.8% at the end of November 2023, amounting to RO 30.878 billion, compared to RO 29.188 billion during the same period last year.
The average interest rate on total loans increased by 2.1% and stood at 5.485% at the end of November 2023.
Meanwhile, the real exchange rate index for the Omani rial increased by 1.4% to reach 115.7 points at the end of November 2023. — ONA
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