Muscat, Total loans and financing in commercial banks increased by 4.5% to reach RO 28,299.7 million as at the end of May 2022 compared to RO 27,085.2 million during the same period in 2021. The average interest rate on total credit declined by 0.1%, according to the latest data issued by the National Centre for Statistics and Information (NCSI).

The effective exchange rate index of the Omani Rial rose by 8.3% to 111 points compared to 102.5 points at the end of the same period in 2021. The total currency issued by the end of May 2022 reached RO 1,721.9 million compared to RO 1,836.6 million by the end of the same period in 2021, comprising a drop by 6.2%.

The total foreign assets at the Central Bank of Oman (CBO) decreased by 3.5% by the end of May 2022 reaching RO 6,705.7 million compared to RO 6,945.9 million by the end of May 2021.

Broad Money Supply (M2) rose by 0.5% to reach RO 20,379.1 million compared to the same period in 2021 when the reported M2 stood at RO 20,279 million.

Narrow Money Supply (M1) declined by 0.4% to reach RO 5,783.1 million compared to RO 5,803.6 million during the same period in 2021.

The private sector’s deposits in commercial banks and Islamic windows in the Sultanate of Oman fell by 1% to reach RO 17,155.7 million at the end of May 2022 compared to RO 17,336.6 million during the same period in 2021.

Source: Oman News Agency