MUSCAT : The value of the allotted Treasury bills amounted to RO 24 million, for a maturity period of 28 days. The average accepted price reached RO 99.660 for every RO 100, and the minimum accepted price arrived at RO 99.660 per RO 100. The average discount rate and the average yield reached 4.43214% and 4.44726%, respectively.

Whereas, the value of the allotted Treasury bills amounted to RO 4 million, for a maturity period of 91 days. The average accepted price reached RO 98.838 for every RO 100, and the minimum accepted price arrived at RO 98.835 per RO 100. The average discount rate and the average yield reached 4.66277 percent and 4.71762 percent, respectively.

While, the value of the allotted Treasury bills amounted to RO 12 million, for a maturity period of 182 days. The average accepted price reached RO 97.638 for every RO 100, and the minimum accepted price arrived at RO 97.620 per RO 100. The average discount rate and the average yield reached 4.73715 percent and 4.85175 percent, 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 5.50 percent while the discount rate on the Treasury Bills Discounting Facility with CBO is 6.00 percent.

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.

For all the latest news from Oman and GCC, follow us on Twitter, Instagram and LinkedIn, like us on Facebook and subscribe to our YouTube page, which is updated daily.