Govt treasury bills worth RO 11m issued

MUSCAT: The total issuance of Government Treasury Bills amounted to RO 11 million this week. The value of the allotted Treasury bills amounted to RO 7 million, for a maturity period of 28 days.
The average accepted price reached RO 99.720 for every RO 100, and the minimum accepted price arrived at RO 99.720 per RO 100. The average discount rate and the average yield reached 3.65000 per cent and 3.66025 per cent, respectively.
The value of the allotted Treasury bills amounted to RO 3 million, for a maturity period of 91 days. The average accepted price reached RO 99.040 for every RO 100, and the minimum accepted price arrived at RO 99.040 per RO 100. The average discount rate and the average yield reached 3.85055 per cent and 3.88787 per cent, respectively.
The value of the allotted Treasury bills amounted to RO 1 million, for a maturity period of 182 days.
The average accepted price reached RO 98.135 for every RO 100, and the minimum accepted price arrived at RO 98.135 per RO 100. The average discount rate and the average yield reached 3.74025 per cent and 3.81133 per cent, 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 4.25 per cent while the discount rate on the Treasury Bills Discounting Facility with CBO is 4.75 per cent.
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. — ONA