Oman Tribune - Sultanate’s key bank rates softened in first 7 months of 2011

The deposit and lending rates among the banks in the Sultanate softened during the first seven months of the year, a Central Bank of Oman (CBO)monetary report said on Friday.

The weighted average interest rate on rial deposits, which include demand, savings and time deposits of all sectors, declined from 1.988 per cent in July 2010 to 1.427 per cent in July 2011, the report added.

The weighted average rial lending rate decreased from 7.039 per cent to 6.490 per cent during the same period.

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