RO 77m worth Treasury Bills issued

MUSCAT: A tender of Government Treasury Bills, issue number 457, was held at the Central Bank of Oman this week. The results of issue are as follows: The total value of the allotted Treasury Bills amounted to RO 77 million, for a maturity period of 91 days, from May 10 until August 9, 2017. The average accepted price reached 99.731 for every RO 100 while the minimum accepted price arrived at 99.725 per RO 100. The average discount rate and the average yield reached 1.07906 per cent and 1.08197 per cent, respectively.

Note that the interest rate on the Repo operations with CBO is 1.494 per cent for the period from May 9 to May 15 while the discount rate on the Treasury Bills Discounting Facility with CBO is 2.244 per cent, for the same period. Treasury Bills are short-term highly secured financial instruments issued by the Central Bank of Oman (CBO) on behalf of the Government, which helps the licensed commercial banks to gainfully invest their surplus funds, with added advantage of ready liquidity through discounting and repurchase facilities (Repo) offered by the Central Bank. Furthermore, Treasury Bills promote the local money market by creating a benchmark yield curve for short-term interest rates. — ONA