MUSCAT: Statistics issued by the National Centre for Statistics and Information (NCSI) show that the total foreign assets at the Central Bank of Oman (CBO) increase by 13.8 per cent to RO 7,209.5 million by the end of October 2024, compared to the corresponding period in 2023, when it was RO 6,336.7 million.
Initial data issued by the NCSI showed that narrow money supply (M1) by the end of October 2024 stood at RO 6,995.8 million, an increase of 24.8 per cent compared to the corresponding period in 2023.
Broad money supply (M2), which consists of total cash outside the banking system in addition to current accounts and demand deposits in local currency, increased by 12.6 per cent to RO 24,808.1 million, compared to RO 22,036.3 million at the end of October 2023.
Meanwhile, private sector deposits in commercial banks and Islamic windows at the end of October 2024 stood at RO 20,384.3 million, up by 9.4 per cent compared to the corresponding period in 2023 (when it was worth RO 18,638.5 million).
Total loans and financing in commercial banks and Islamic windows grew by 4.8 per cent by the end of October 2024 to RO 31,875.2 million, compared to RO 30,409.9 million.
The average interest rate on total loans increased by 3.2 per cent at the end of October 2024 to reach 5.628, while the effective exchange rate index of the Omani rial decrease by 1.1 per cent to 116.4 at the end of October 2024.
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