The Central Bank of Oman: Total foreign assets increased 6.1% at the end of July 2020

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direct: The total foreign assets of the Central Bank of Oman increased by 6.1 percent, registering at the end of July 2020 a value of OMR6.28 billion, compared to the end of July 2019, when foreign assets amounted to OMR 5.9 billion.

Domestic liquidity increased by about 1.73 billion Omani riyals, according to preliminary data issued by the National Center for Statistics and Information.

By the end of July 2020, the total issued cash amounted to 1.96 billion Omani Rials, an increase of 18.9 percent compared to the same period in 2019, which witnessed one billion, 654 million and 800 thousand Omani riyals in cash.

The money supply in its narrow sense – which consists of total cash outside the banking system in addition to current accounts and demand deposits in local currency – increased by 7.8 percent to reach 5.58 billion Omani Rials, compared to 5.17 billion Omani Rials at the end of July 2019.

The domestic liquidity increased at the end of July 2020 by 10 percent, recording 19 billion and 62 million Omani riyals, compared to 17 billion and 330 million and 700 thousand Omani riyals during the same period in 2019.

For its part, private sector deposits in commercial banks and Islamic windows by the end of last July amounted to 16 billion and 465 million and 900 thousand Omani riyals, an increase of 10.4 percent over the same period in 2019, which witnessed deposits of the private sector of 14.91 billion Omani riyals.

Total loans and financing in commercial banks and Islamic windows increased by the end of July 2020 by 1.7 percent to reach 26 billion and 175 million and 800 thousand Omani Rials compared with 25 billion and 745 million and 100 thousand Omani Rials, while the average interest rate on total loans increased by 1.5%, as it was recorded at the end of July 2020, a rate of 5.3 percent.

The effective exchange rate index of the Omani riyal decreased by 1.4 percent at the end of July 2020, recording 104.1 points, compared to 105.6 points at the end of July 2019.

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