Statistics issued by the National Centre for Statistics and Information (NCSI) show that the total foreign assets at the Central Bank of Oman (CBO) rose by 7.8% to RO 6,741 million by the end of January 2024, compared to the corresponding period in 2023, when it was RO 6,254.1 million.
Initial data issued by the NCSI showed that local liquidity by the end of January 2024 stood at RO 23,375.8 million, an increase of 14% compared to the corresponding period in 2023.
Narrow money supply, which consists of total cash outside the banking system in addition to current accounts and demand deposits in local currency, increased by 9.2% to RO 6,090.6 million, compared to RO 5,577.5 million by the end of January 2023.
Meanwhile, private sector deposits in commercial banks and Islamic windows by the end of January 2024 stood at RO 19,559.5 million, up by 11.6% compared to the corresponding period in 2023 (when it was worth RO 17,532.1 million).
Total loans and financing in commercial banks and Islamic windows grew by 3.8% by the end of January 2024 to RO 30,485 million, compared to RO 29,358.7 million.
The average interest rate on total loans increased 4.5% by the end of January 2024 by 5.546%, while the actual exchange rate index of the Omani Rial stabilized at 116 points at the end of January 2024.