Omani Rial Exchange Rate Index up 0.8 Percent till November 2019

Muscat, The effective exchange rate index of Omani Rial rose by 0.8% to 105.8 points as of the end of November 2019 compared to 105 points in the same period of 2018, indicating the currency has enhanced purchasing power.

The Sultanate registered a 3.3% fall in narrow money supply (M1) to reach RO5.04 billion by the end of November 2019. Meanwhile, broad Money Supply (M2) rose 3.1% to reach RO17.41 billion during the period as against RO16.89 billion the previous year, according to data released by the National Centre for Statistics and Information (NCSI).

Total foreign assets of the Central Bank of Oman rose by 1.6%, reaching RO6.16 billion compared to the same period of 2018, which stood at RO6.06 billion.

Private sector deposits in commercial banks and Islamic windows showed a rise of 2.3% as of the end of November 2019, reaching RO14.84 billion against RO14.52 billion in 2018.

The average interest rate on total credit touched 3.4% at the end of 11-month period of 2019, recording a rise of 5.5% in 2019 compared to 5.3% during the same period in 2018.

The total currency issued till the end of November 2019 stood at RO1.63 billion against RO1.60 billion issued in 2018, marking a rise of 1.9%, according to NCSI data.

Source: Oman News Agency