Oman to keep 80% dollar reserves

Oman favours keeping most of its $5 billion of central bank reserves in dollars rather than euros because the US currency pays higher interest, the central bank governor was quoted by Reuters as saying.

According to the newswire he said about 80 per cent of the bank's foreign exchange reserves are in dollars, 15 per cent in euros and 5 per cent in pounds.

'We are not changing our investment policy,' said Hamood Sangour Al Zadjali, the central bank's executive president.

'We think that the dollar