Repo Rate for local banks decreases by 25 basis points

Muscat: The Central Bank of Oman (CBO), effective from today, decreased its repo rate for local banks by 25 basis points to 5.25%.

The Central Bank of Oman’s monetary policy target is to sustain and maintain its fixed exchange rate. This policy is aligned with the structure and nature of the Omani economy.

There are a number of advantages for the Sultanate of Oman that are derived from this policy among which are the following: Stability of the currency; Avoidance of irregular capital movements across borders; Stimulating the economic activities in the country by having lower cost of funding in the domestic market; Promoting certainty among investors by removing exchange rate risk