Thursday, March 28, 2024 | Ramadan 17, 1445 H
broken clouds
weather
OMAN
23°C / 23°C
EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Treasury bills worth RO 30m tendered

1331803
1331803
minus
plus

MUSCAT: A tender of government treasury bills, issue number 474, was held at the Central Bank of Oman (CBO) this week. The results of the issue are as follows: the total value of the allotted treasury bills amounted to RO 30 million, for a maturity period of 91 days, from today until August 8. The average accepted price reached 99.615 for every RO 100 while the minimum accepted price arrived at 99.615 per RO 100. The average discount rate and the average yield reached 1.54423 per cent and 1.55020 per cent respectively. The interest rate on the Repo operations with the CBO is 2.428 per cent for the period from May 8 to May 14 while the discount rate on the treasury bills discounting facility with the CBO is 3.178 per cent for the same period.


The treasury bills are short-term highly secured financial instruments issued by the CBO on behalf of the government, which help the licensed commercial banks to gainfully invest their surplus funds, with an added advantage of ready liquidity through discounting and repurchase facilities (Repo) offered by the Central Bank. Furthermore, the treasury bills promote the local money market by creating a benchmark yield curve for short-term interest rates. Additionally, the government (MOF) may also resort to this instrument whenever felt necessary for financing its recurrent expenditures. — ONA


SHARE ARTICLE
arrow up
home icon