Muscat: The Central Bank of Oman (CBO) on Tuesday announced the issuance of RO 216 million worth of treasury bills to raise funds on behalf of the government
A tender of Government Treasury Bills, issue number 131, worth RO216mn was issues this week by the CBO.
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 acts as the Issue Manager and provides the added advantage of ready liquidity discounting and repurchase facilities (Repo).
The total value of the allotted treasury bills amounted to RO 216 million, for a maturity period of 28 days, from Jan 5, 2022 until Feb 2, 2022. The average accepted price reached RO 99.951 for every RO 100, and while minimum accepted price arrived at RO 99.950 per RO 100, as per the CBO statement.
The average discount rate and average yield reached 0,63972 percent and 0.64003% percent, respectively.
The interest rate of the Repo operations with CBO is 0.5 percent while the discount rate on the Treasury Bills Discounting Facility with central Bank is 0.75 percent.
Furthermore, The government treasury bills in Oman 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.
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