Oman is reportedly negotiating with Gulf Arab states to secure a multi-billion dollar deposit in its Central Bank (CBO) that would boost its foreign exchange reserves and head off any pressure on the OMR. Sources said that Omani officials had met in recent weeks with officials of the Finance Ministries of Kuwait, Qatar and Saudi Arabia to discuss the proposed deposit. The deposit can lessen the risk of devaluation, sources added. A Qatari official confirmed that negotiations were under way, saying that it is in line with the collective interest of the region to keep the exchange rate intact, and that it is in the region of billions of dollars. (Reuters)