Oman money supply dips 1.2%

13 July 2010

According to data from the central bank of Oman, money supply in the country fell 1.2% month-on-month at the end of May, the first decline this year after a 0.6% rise in April, Reuters has reported. M2 stood at RO8.225bn ($21.36bn) at the end of May, compared to RO8.325bn in April, the data showed. M2, also an indicator of future inflation, had started to pick up speed this year, after cooling down from double-digit growth rates seen for most of first seven months of 2009.

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