Omani rial exchange rate index rises 3.6%
he effective exchange rate index of the Omani rial rose 3.6 per cent to 104.0 points in the end of January 2019 compared to 100.4 points in the same period of 2018, indicating the currency’s enhanced purchasing power.
Total currency issued till the end of January stood at RO1.57bn against RO1.62bn issued in the previous year, marking a decline of 2.9 per cent, according to the figures released by the National Centre for Statistics and Information (NCSI).
According to NCSI data, Oman registered a three per cent fall in narrow money supply (M1) to reach RO4.8bn in the end of January 2019. On the other hand, broad money supply (M2) rose 2.4 per cent to reach RO16.67bn during in the end of January as against RO16.28bn in the same period of the previous year.