Muscat, A tender of Government Treasury Bills, issue number 169, worth RO 10 Million was issued this week.
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 the added advantage of ready liquidity through discounting and repurchase facilities (Repo).
The results of the said issue are as follows: The total value of the allotted Treasury bills amounted to RO 10 million, for a maturity period of 182 days, from 4 January 2023 until 5 July 2023. The average accepted price reached RO 97.483 for every RO 100, and the minimum accepted price arrived at RO 97.470 per RO 100.
The average discount rate and the average yield reached 5.04883% and 5.17922%, respectively.
It may be noted that the interest rate on the Repo operations with CBO is 5.00% while the discount rate on the Treasury Bills Discounting Facility with CBO is 5.50%.
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