Oman's real effective exchange rate increases
Published: 03:08 PM,Aug 31,2024 | EDITED : 07:08 PM,Aug 31,2024
Broad money (M1) increased by 16.3% during H1
MUSCAT, (ONA) : The real effective exchange rate of the Omani Rial increased by 2.7 per cent at the end of June 2024, reaching 118.4 points, according to preliminary statistics issued by the National Center for Statistics and Information.
The data indicated that domestic liquidity in the Sultanate of Oman increased by about RO 2.6 billion at the end of June 2024, reaching RO 24.062 billion, representing an increase of 12 per cent compared to the same period in 2023.
Total currency in circulation decreased by 3.3 per cent, recording RO 1 .708 billion at the end of June 2024 compared to RO 1.765 billion at the end of June 2023.
Broad money (M1), which consists of total currency outside the banking system in addition to current accounts and demand deposits in the local currency, increased by 16.3 per cent to record RO 6.732 billion compared to RO 5.786 billion at the end of June 2023.
Total foreign assets at the Central Bank of Oman increased by 6.2 per cent to record RO 6.993 billion at the end of June 2024 compared to the end of June 2023, when total foreign assets amounted to RO 6.586 billion.
Total loans and financing in commercial banks and Islamic windows increased by 3.8 per cent to reach RO 31.432 billion at the end of June 2024 compared to RO 30.272 billion. The average interest rate on total loans increased by 2.7 per cent to reach 5.581 per cent at the end of June 2024.
The data indicated that domestic liquidity in the Sultanate of Oman increased by about RO 2.6 billion at the end of June 2024, reaching RO 24.062 billion, representing an increase of 12 per cent compared to the same period in 2023.
Total currency in circulation decreased by 3.3 per cent, recording RO 1 .708 billion at the end of June 2024 compared to RO 1.765 billion at the end of June 2023.
Broad money (M1), which consists of total currency outside the banking system in addition to current accounts and demand deposits in the local currency, increased by 16.3 per cent to record RO 6.732 billion compared to RO 5.786 billion at the end of June 2023.
Total foreign assets at the Central Bank of Oman increased by 6.2 per cent to record RO 6.993 billion at the end of June 2024 compared to the end of June 2023, when total foreign assets amounted to RO 6.586 billion.
Total loans and financing in commercial banks and Islamic windows increased by 3.8 per cent to reach RO 31.432 billion at the end of June 2024 compared to RO 30.272 billion. The average interest rate on total loans increased by 2.7 per cent to reach 5.581 per cent at the end of June 2024.