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Oman denies seeking deposits from Gulf states

Oman's Ministry of Finance. (Courtesy photo)

JEDDAH: Oman has denied reports that it is negotiating with other Gulf Arab states to secure a multi-billion-dollar deposit in its central bank to boost its foreign exchange reserves, the Oman News Agency (ONA) said on Wednesday, quoting a statement by the sultanate’s Ministry of Finance.
A Reuters report quoting two sources on Tuesday said the move was meant to head off any pressure on its currency, the Omani riyal.
The Omani finance ministry dismissed the report as “false” and that there have not been any negotiations to secure a multibillion worth deposit, ONA said.
“The statement affirmed that the Sultanate has enough reserves and that the value of the Omani riyal does not face any risks,” ONA said.

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