Narrow money stock falls 3.3% in March

Times of Oman | Jun 15, 2019 at 5:03 PM
  • With regard to monetary aggregates at the end of March 2019, the narrow money stock (M1) decreased year-on-year (YoY) by 3.3 per cent to OMR5 billion, while quasi- money (Rial Omani saving and time deposits, certificates of deposit issued by banks, margin deposits and foreign currency denominated deposits) witnessed a growth of 7.5 per cent during this period.
  • The domestic interest rates of conventional banks increased mainly following the trends in USA due to the currency peg arrangement.
  • The average Repo rate for liquidity injection by the Central Bank of Oman (CBO) stood at 2.989 per cent per annum during the month of March 2019.