CBO foreign assets reach RO 6.568 bn

MUSCAT: The overall foreign assets of the Central Bank of Oman witnessed a 1.5 percent increase by the end of April 2023, amounting to RO 6.568 billion, in comparison to the corresponding period last year, which stood at RO 6.473 billion. Preliminary data released by the National Center for Statistics and Information (NCSI) indicates that domestic liquidity surged by approximately RO 688 million, reaching RO 21.069 billion, reflecting a 3.4 percent growth compared to the same period in 2022. Moreover, the total cash issued by the CBO experienced a 9.1 percent decline, settling at RO 1.750 billion by the end of April 2023, as opposed to RO 1.924 billion by the end of April 2022. On a different note, private sector deposits in commercial banks and Islamic windows reached approximately RO 17.877 billion by the end of April 2023, displaying a 3.7 percent increase from the corresponding period in 2022, which saw private sector deposits amounting to RO 17.246 billion. Meanwhile, the total loans and financing in commercial banks and Islamic windows grew by 6.3 percent, reaching RO 30.025 billion by the end of April 2023, in comparison to RO 28.245 billion in 2022. The average interest rate on total loans decreased by 1.9 percent, recording a rate of 5.367 percent by the end of April 2023. Additionally, the actual exchange rate index for the Omani rial saw a 2.3 percent rise, concluding at 113.9 points by the end of April 2023, compared to 111.3 points in April 2022. — ONA

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