Muscat, The real exchange rate of the Omani Rial rose by 4.1 percent to 103.5 points as at the end of June 2018, compared to 102.1 points in the same period in 2017, which indicates a rise in the purchasing power of the Omani Rial.

According to preliminary data released by the National Centre for Statistics and Information (NCSI), local liquidity rose at the end of last June 2018 by 3 percent, recording RO 16,618.6 million, compared to 16,130.7 million in the same period of 2017.

The total foreign assets at the Central Bank of Oman (CBO) amounted to RO 6,127.6 million, a decline of 8.5 percent over the same period of 2017 during which foreign assets hit RO 6,695.4 million.

Private deposits with commercial banks and Islamic windows as at the end of June 2018 stood at RO 14,219.6 million, an increase of 4.7 percent over the same period of 2017, which witnessed private deposits worth RO 13,582.3 million.

Total loans at commercial banks increased by 6.1 percent to reach RO 24,262.4 million, compared to RO 22,858.8 million during the same period of 2017.

The average interest rate on the total loans also grew by 5.8 percent. As at the end of June 2018, it was 5.2 percent compared to 4.9 percent during the same period in 2017.

Total issued cash at the end of June 2018 amounted to RO 1,703.1 million, a decrease of 10.1 percent, compared to RO 1.895 billion at the same period of 2017.

In addition, the narrow money supply, which consists of total cash outside the banking system, in addition to current accounts and demand deposits in local currency, decreased to RO 5,255.3 million, compared to RO 5,424.3 million during the same period of 2017, with a decrease of 3.1 percent.

Source: Oman News Agency