Muscat: The total issuance of Government Treasury Bills amounted to OMR 64 million. The value of the allotted Treasury bills amounted to OMR 16 million, for a maturity period of 28 days. The average accepted price reached OMR 99.620 for every OMR 100, and the minimum accepted price arrived at OMR 99.620 per OMR 100. The average discount rate and the average yield reached 4.95357% and 4.97247%, respectively.
Whereas, the value of the allotted Treasury bills amounted to OMR 48 million, for a maturity period of 91 days. The average accepted price reached OMR 98.722 for every OMR 100, and the minimum accepted price arrived at OMR 98.710 per OMR 100. The average discount rate and the average yield reached 5.12613% and 5.19250%, respectively.
Treasury Bills are short-term highly secured financial instruments issued by the Ministry of Finance, and they provide licensed commercial banks the opportunity to invest their surplus funds. The Central Bank of Oman (CBO) acts as the Issue Manager and provides theadded adva
ntage of ready liquidity through discounting and repurchase facilities (Repo).
It may be noted that the interest rate on the Repo operations with CBO is 6.00% while the discount rate on the Treasury Bills Discounting Facility with CBO is 6.50%.
Furthermore, Treasury Bills promote the local money market by creating a benchmark yield curve for short-term interest rates. Additionally, the Government may also resort to this instrument whenever felt necessary for financing its recurrent expenditures.
Source: Oman News Agency
