MUSCAT: A tender of Government Treasury Bills, issue number 58 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 55 million, for a maturity period of 28 days, from today until June 27.
The average accepted price reached 99.878 for every RO 100 while the minimum accepted price arrived at 99.860 per RO 100.
The average discount rate and the average yield reached 1.58799 per cent and 1.58993 per cent respectively.
The interest rate on the Repo operations with CBO is 2.476 per cent for the period from Tuesday till June 4 while the discount rate on the Treasury Bills Discounting Facility with CBO is 3.226 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 helps the licensed commercial banks to gainfully invest their surplus funds, with the added advantage of ready liquidity through discounting and repurchase facilities (Repo) offered by the CBO. The Treasury Bills promote the local money market by creating a benchmark yield curve for short-term interest rates.
Additionally, the MoF may also resort to this instrument whenever felt necessary for financing its recurrent expenditures. — ONA
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