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FINANCIAL NEWS
Oman money supply falls 1.2% by May-end
13 Jul 2010
(MENAFN) Money supply in Oman fell 1.2 percent month-on-month at the end of May, the first decline this year after a 0.6 percent rise in April, data from the Gulf country’s central bank showed.
Money supply measured as M2 stood at $21.36 billion at the end of May, compared to April, the official figures showed.
M2 in May rose 6.6 percent compared to the same period last year. M2, also an indicator of future inflation, had started to pick up speed this year, after cooling down from double-digit growth rates seen for most of first seven months of 2009.
The central bank’s net foreign assets rose by 14.4 percent from May 2009, the statistics showed.
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