Muscat: The effective exchange rate index of the Omani rial rose by 1.9 per cent to register 106.9 points by the end of March 2020, compared to 104.9 points by the end of March 2019.

The total currency issued until the end of March 2020 stood at OMR1.76 billion, against OMR1.63 billion issued in 2019, marking a rise by 7.9 per cent, according to data released by the National Centre for Statistics and Information (NCSI).

The Sultanate registered an increase in narrow money supply (M1) by 10.3 per cent to reach OMR5.63 billion by the end of March 2020. Broad Money Supply (M2) also rose 10.2 per cent to reach OMR18.85 billion during the period, compared to OMR17.11 billion during the same period in the previous year.

Total foreign assets of the Central Bank of Oman (CBO) fell by 0.9 per cent, reaching OMR6.30 billion till the of end of March 2020, compared to the same period of 2019, which stood at OMR6.35 billion.

Private sector deposits in commercial banks and Islamic windows showed a rise by 9.1 per cent till the end of March 2020, reaching OMR15.92 billion, against 14.59 billion in 2019.

Total loans and financing in commercial banks rose by 3.7 per cent to OMR26.40 billion by the end of March 2020, compared to 25.45 billion in 2019.
The average interest rate on total credit touched 2.5 per cent at the end of March 2020, recording a rise by 5.5 per cent in 2020, compared to 5.3 per cent during the same period in 2019.

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