MUSCAT: Total foreign assets of the Central Bank of Oman (CBO) fell by 5.9%, reaching RO 5.80 billion compared to the same period of 2019, when it stood at OMR 6.16 billion. Private sector deposits in commercial banks and Islamic windows showed a rise of 10.8% at the end of November 2020, reaching OMR 16.45 billion against OMR 14.84 billion in 2019.
The Sultanate registered an increase by 11.0% in narrow money supply (M1) to reach OMR 5.59 billion by the end of November 2020. Meanwhile, broad Money Supply (M2) rose also 9.7% to reach OMR 19.09 billion during the period as against OMR 17.41 billion the previous year, according to data released by the National Centre for Statistics and Information (NCSI).
Total loans and financing in commercial banks rose by 1.9% to OMR 26.33 billion by the end of November 2020 against OMR 25.83 billion in 2019. The average interest rate on total credit touched 5.5% at the end of November 2020, recording a fall of 0.2%.
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The total currency issued until the end of November 2020 stood at OMR 1,774.4 million against OMR 1,639.9 million issued in 2019, marking rose by 8.2%, according to NCSI data.
The effective exchange rate index of Omani Rial fell by 2.8% to 102.8 points at the end of November 2020 compared to 105.8 points in the same period of 2019.
