Muscat: The total foreign assets at the Central Bank of Oman (CBO) increased by 3% by the end of June 2023 to stand at OMR 6,586.8 million compared to OMR 6,392.3 million during the same period in 2022.

The statistics showed that local liquidity grew by 3.4% to reach OMR 21,479 million.

The total currency issued by the end of June 2023 also rose by 1.9% to reach OMR 1,765.8 million compared to OMR 1,733 million by the end of the corresponding period in 2022.

Narrow Money Supply (M1) went down by 4.6% to reach OMR 5,786.6 million compared to OMR 6,065.2 million during the same period in 2022.

Meanwhile, the private sector’s deposits in commercial banks and Islamic windows in the Sultanate of Oman rose by 2.7% to reach OMR 17,999 million at the end of June 2023 compared to OMR 17,524.1 million during the same period in 2022.

The total loans and financing in commercial banks and Islamic windows in the Sultanate of Oman increased by 6.5% to reach OMR 30,272.2 million by the end of June 2023 compared to OMR 28,416.8 million during the corresponding period in 2022. The average interest rate on total credit declined by 1.2% at the end of June 2023.