Muscat, The effective exchange rate index of the Omani Rial rose by 2.1% to 105.8 points as at the end of August 2019 compared to 103.6 points during the same period in 2018, indicating the currency has enhanced purchasing power.
The narrow money supply (M1) registered a decline by 0.4% to reach RO 5.1 billion by the end of August 2019. Meanwhile, broad money supply (M2) rose by 4.5% to reach RO 17.2 billion during the period as against RO 16.5 billion in the previous year, according to data released by the National Centre for Statistics and Information (NCSI).
The total currency issued till the end of August 2019 stood at RO 1.62 billion against RO 1.72 billion issued in 2018, marking a decrease by 6%, according to NCSI data.
Total foreign assets of the Central Bank of Oman (CBO) rose by 22.8%, reaching RO 6.86 billion compared to the same period of 2018, which stood at RO 5.59 billion.
Private sector deposits in commercial banks and Islamic windows showed a rise by 5.6% by the end of August 2019, reaching RO 14.9 billion against RO 14.1 billion in 2018.
Total loans and financing in commercial banks rose by 4.3% to RO 25.7 billion by the end of August 2019 against RO 24.6 billion in 2018.
The average interest rate on total credit touched 5.34% at the first eight-month period of 2019, recording a rise of 2.2% in 2019 compared to 5.2% during the same period in 2018.
Source: Oman News Agency