A new study says that the total amount of domestic liquidity grew by 2.1% from the end of January 2022 to the end of January 2023, when it reached OMR 20.50 billion.
According to early data from the National Centre for Statistics and Information (NCSI), the total amount of cash in Oman was 5.3% lower at the end of January 2023 than it was at the end of January 2022, when it was OMR 1.69 billion. This means that the total amount of cash in Oman was OMR 1.60 billion at the end of January 2023.
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The narrow definition of the money supply, which includes all cash outside of the banking system as well as current accounts and demand deposits in local currency, decreased by 3.1% from the same time in 2022 to hit OMR5.57 billion at the end of January.
The amount of foreign assets held by the Central Bank of Oman (CBO) went down by 15.1%, from OMR 7.58 billion at the end of January 2022 to OMR 6.25 billion at the end of January 2018.
On the other hand, private sector savings in commercial banks and Islamic windows in the Sultanate of Oman went up by 1.5%, from OMR17.26 billion at the end of January 2022 to OMR17.53 billion at the end of January 2023.
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The NCSI data also showed that the total loans and borrowing in commercial banks and Islamic windows would go up by 5%, from OMR27.95 billion at the end of January 2022 to OMR29.35 billion at the end of January 2023.
At the end of January 2023, the actual exchange rate index for the Omani rial was 112.5 points, up from 106.6 points at the same time in 2022. At the same time, the average interest rate on Omani rial loans went down from 5.504 percent at the end of January 2022 to 5.306 percent at the end of January 2023.