Muscat: The total value of government treasury bills allocated this week reached 58 million Omani riyals. The statement issued by the Central Bank of Oman stated that the value of the bills allocated for a maturity period of 28 days amounted to 20 million Omani riyals, with an average acceptable price of 99.590 Omani riyals, and the lowest acceptable price reached 99.590 per 100 Omani riyals, while the average discount rate reached 5.34,464 percent, and the average return. 5.36665 percent.
While the value of the bills allocated for a maturity period of 91 days amounted to 38 million Omani riyals, with an average acceptable price of 98.660 Omani riyals, and the lowest acceptable price reached 98.660 per 100 Omani riyals, while the average discount rate reached 5.37,473 percent, and the average return was 5.44,772 percent.
Treasury bills are a guaranteed short-term financial instrument issued by the Ministry of Finance to provide investment outlets for licensed commercial banks, with the Central Bank of Oman acting as the issuance manager for these bills.
The statement indicated that the interest rate on repurchase operations with the Central Bank of Oman (repo) on these bills is 6.00 percent, while the discount rate with the Central Bank on treasury bill facilities is 6.50 percent. Treasury bills have a rapid liquidation feature by discounting them with the Central Bank of Oman, and by conducting repurchase (repo) deals with the central bank as well.
Licensed commercial banks can also conduct (repo) operations among themselves on treasury bills in the interbank market. In addition, this tool contributes to creating a guideline for short-term interest rates for the local financial market, and the government can resort to it to finance some expenses in a smooth and flexible manner.
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