Total loans and financing in commercial banks increased by 4.5 per cent to reach RO28,299.7mn at the end of May 2022 compared to RO27,085.2mn during the same period in 2021.

The average interest rate on total credit declined by 0.1 per cent, according to the latest data issued by the National Centre for Statistics and Information (NCSI).

The effective exchange rate index of the Omani Rial rose by 8.3 per cent to 111 points compared to 102.5 points at the end of the same period in 2021. Meanwhile, the total currency issued by the end of May 2022 reached RO1,721.9mn compared to RO1,836.6mn by the end of the same period in 2021, comprising a drop of 6.2 per cent.

The total foreign assets at the Central Bank of Oman (CBO) decreased by 3.5 per cent by the end of May 2022 reaching RO6,705.7mn compared to RO6,945.9mn by the end of May 2021.

Broad Money Supply (M2) rose by 0.5 per cent to reach RO20,379.1mn compared to the same period in 2021 when the reported M2 stood at RO20,279mn.

Narrow Money Supply (M1) declined by 0.4 per cent to reach RO5,783.1mn compared to RO5,803.6mn during the same period in 2021.

The private sector’s deposits in commercial banks and Islamic windows in the Sultanate of Oman fell by 1 per cent to reach RO17,155.7mn at the end of May 2022 compared to RO17,336.6mn during the same period in 2021.