Muscat: The total issuance of Government Treasury Bills amounted to RO 35.98 million. The value of the allotted Treasury bills amounted to RO 10 million, for a maturity period of 28 days. The average accepted price reached RO 99.700 for every RO 100, and the minimum accepted price arrived at RO 99.700 per RO 100. The average discount rate and the average yield reached 3.91071% and 3.92248%, respectively.
According to Oman News Agency, the value of the allotted Treasury bills amounted to RO 6.53 million, for a maturity period of 91 days. The average accepted price reached RO 98.961 for every RO 100, and the minimum accepted price arrived at RO 98.960 per RO 100. The average discount rate and the average yield reached 4.16765% and 4.21141%, respectively.
The report further detailed that the value of the allotted Treasury bills amounted to RO 14.45 million, for a maturity period of 182 days. The average accepted price reached RO 97.930 for every RO 100, and the minimum accepted price arrived at RO 97.930 per RO 100. The average discount rate and the average yield reached 4.15068% and 4.23840%, respectively.
Meanwhile, the value of the allotted Treasury bills amounted to RO 5 million, for a maturity period of 364 days. The average accepted price reached RO 96.150 for every RO 100, and the minimum accepted price arrived at RO 96.150 per RO 100. The average discount rate and the average yield reached 3.86058% and 4.01516%, respectively.
Treasury Bills are short-term highly secured financial instruments issued by the Ministry of Finance, providing licensed commercial banks the opportunity to invest their surplus funds. The Central Bank of Oman (CBO) acts as the Issue Manager and offers the added advantage of ready liquidity through discounting and repurchase facilities (Repo).
The interest rate on the Repo operations with CBO is 5.00% while the discount rate on the Treasury Bills Discounting Facility with CBO is 5.50%. Furthermore, Treasury Bills promote the local money market by creating a benchmark yield curve for short-term interest rates. Additionally, the Government may resort to this instrument whenever necessary for financing its recurrent expenditures.