Tender Results of Government Treasury Bills worth OMR 70 Million Issued

cbo
cbo

Muscat: The total issuance of Government Treasury Bills this week stood at OMR 70 million. The value of the allotted Treasury bills stood at OMR 30 million, for a maturity period of 28 days.

The average accepted price reached OMR 99.605 for every OMR 100, and the minimum accepted price arrived at OMR 99.605 per OMR 100. The average discount rate and the average yield reached 5.14911% and 5.16953%, respectively.

The value of the allotted Treasury bills amounted to RO 40 million, for a maturity period of 91 days. The average accepted price reached RO 98.666 for every OMR 100, and the minimum accepted price arrived at OMR 98.665 per OMR 100. The average discount rate and the average yield reached 5.34865% and 5.42094%, 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 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 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. – ONA

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