Narrow money supply in the Sultanate declined 3.8% by the end of February at OMR 5.0 billion as against OMR 5.2 billion reported last year during the same period, while broad money supply grew 3.9% to OMR 15.81 billion from last year's OMR 15.21 billion, says the latest update from the (NCSI).
Also, a 2.5% year on year fall was reported in the value of total currency issued in the Sultanate during the first two months of the current year, which declined from OMR 1.667 billion last year to touch OMR 1.626 billion this year.
Foreign assets at the Central Bank of Oman increased 12.4% to over OMR 7.206 billion during the January-February period, compared with last year's assets worth OMR 6.411 billion.
Private sector deposits at commercial banks and Islamic windows went up 7.2% to OMR 13.666 billion from OMR 12.746 billion reported in the same period of 2016. At the same time their total credit and financing logged a growth of 8.1% to touch OMR 22.205 billion. Further, average interest rate on total credit rose 9.1% to 4.9%. Effective exchange rate index of the Omani Rial fell by 1.1% to 103.8 by February end, as against 105 recorded last year.
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