The Omani rial peg to the USD will continue and there is no need at present for any alteration thanks to financial stability. “The difference between the domestic interest rate and the federal rate is very small, and as long as there are high US dollar reserves, the peg to the USD is under no threat at the time being”, the Central Bank of Oman (CBO) confirms. According to the apex bank, a relatively lower interest rate during in 2016 is good for the recovery of the non-oil real GDP sector. As long as the peg remains intact, credibility of monetary policy also remains high. CBO’s Executive President Hamood Sangour al Zadjali in the first quarter of this year ruled out any intention of altering the country’s currency peg. (Oman Observer)