Muscat: The total issuance of Government Treasury Bills amounted to OMR 33.9 million. The value of the allotted Treasury bills amounted to OMR 33.9 million, for a maturity period of 91 days. The average accepted price reached OMR 99.058 for every OMR 100, and the minimum accepted price arrived at OMR 99.055 per OMR 100.
The average discount rate and the average yield reached 3.77761pc and 3.8135pc, 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 the added advantage of ready liquidity through discounting and repurchase facilities (Repo).
It may be noted that the interest rate on the Repo operations with CBO is 4.75pc while the discount rate on the Treasury Bills Discounting Facility with CBO is 5.2pc. 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.
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