Oman’s broad money supply increases by RO 2.5 billion

MUSCAT : The issued currency declined by 5.2 percent to reach RO 1,505.2 million by the end of November 2024 compared to RO 1,588.1 million by the end of November 2023.

Narrow money supply (M1) by the end of November 2024 stood at RO 7,046.3 million, comprising an increase of 22.1 percent compared to the corresponding period in 2023.

Statistics issued by NCSI show that the total foreign assets at the Central Bank of Oman (CBO) increased by 8.1 percent to RO 7,041.8 million by the end of November 2024, compared to November 2023 when the figure stood at RO 6,516.2 million.

Meanwhile, private sector deposits in commercial banks and Islamic windows by the end of November 2024 stood at RO 20,639.0 million, up by 9.2 percent compared to the corresponding period in 2023 when the figure stood at RO 18,904.2 million.

Total loans and financing in commercial banks and Islamic windows grew by 4.2 percent by the end of November 2024 to RO 32,165.1 million, compared to RO 30,878.4 million.
The average interest rate on total loans increased by 3.3 percent by the end of November 2024 to reach 5.667.

The effective exchange rate index of the Omani Rial decreased by 1.3 percent to 114.2 by the end of November 2024.