Oman dismisses news about seeking billion dollar deposit

Muscat - 

Oman has dismissed news being circulated in media that it is negotiating with Gulf Arab states to secure a multibillion dollar deposit in its central bank to boost its foreign exchange reserves and head off any pressure on rial.

According to a statement issued by the Ministry of Finance, the news published by Reuters that Oman is negotiating with Gulf Arab states to secure a multibillion dollar deposit is false and that there have not been any negotiations on the said issue.

The ministry said that Oman has enough reserves and that the value of the rial does not face any risks.

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