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Omani money source climbs 14.5 percent

01 Nov 2015

(MENAFN) Oman’s money supply rose by 14.5 percent to USD13.7 billion by the end of 2015, as opposed to the same period in 2014, mainly driven by a surge in currency with the public by 5.2 percent.

Additionally, according to a report released by the Central Bank of Oman (CBO), the upsurge in demand deposits by 17.6 percent also contributed significantly in raising the supply.

Moreover, broad money supply M2 (M1 plus quasi-money) stood at USD37.7 billion at the end of August, up from USD34.4 billion a year ago, recording a growth of 10 percent through the timeframe.

On a different note, the central bank’s policy rate for injection of liquidity stayed unaffected at 1 percent since March 2012, plus both deposit and lending rates softened up till the end of August.

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