October 3, 2017 / 12:29 PM / 9 months ago

Oman central bank's new board affirms commitment to FX peg

DUBAI, Oct 3 (Reuters) - The new board of governors of Oman’s central bank affirmed its commitment to the rial’s peg against the U.S. dollar at its first meeting on Tuesday, the central bank said in a statement.

Omani ruler Sultan Qaboos restructured the board last month, appointing Sultan bin Salim bin Said al-Habsi as deputy chairman of the board for a five-year term. He also appointed a new executive president of the central bank, Tahir Salim al-Amri.

The board recognised the currency peg’s “realised benefits to the Omani economy in terms of price stability, promoting economic growth as well as foreign direct investment, in addition to stable interaction with the global economy,” Tuesday’s statement said.

Amri reiterated Oman’s commitment to the currency peg in an interview with Reuters in mid-September. (Reporting by Andrew Torchia)

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