"Merchandise exports surge by 17 per cent to reach RO 9.4 billion — By Samuel Kutty/Amal Ragab — MUSCAT — The foreign assets of Oman stood at RO 6.324 billion at the end of June 2013 after reaching an all-time high of RO 6.628 billion in the previous month. At the same time private sector deposits of the commercial banks in the Sultanate showed a 7.6 per cent rise to reach RO 9.398 billion in the period up to June this year. In Oman, foreign exchange reserves are the foreign assets held or controlled by the CBO. The reserves are of gold or a specific currency. The foreign assets are also special drawing rights and marketable securities denominated in foreign currencies like treasury bills, government bonds, corporate bonds and equities and foreign currency loans. “The Omani economy sustained its growth momentum as reflected in the rise of the GDP and the strength of the balance sheet of the banks,” the central bank says in its latest review of banking and monetary developments in 2013.
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