RO 17.5 million treasury bills issued in Oman

MUSCAT: Government treasury bills worth RO 17.48 million were allocated this week, according to the Central Bank of Oman.

Of the total, RO 13.18 million was issued in 28-day bills at an average yield of 3.75 per cent, while RO 3.7 million was allocated in 91-day bills yielding 3.85 per cent. Another RO 0.6 million was issued in 182-day bills with a 3.57 per cent yield.

The Central Bank of Oman set the repo rate on treasury bills at 4.25 per cent and the discount rate at 4.75 per cent.

Treasury bills, issued by the Ministry of Finance and administered by the Central Bank, provide short-term funding for government spending while offering licensed commercial banks a secure, liquid investment instrument that also serves as a benchmark for short-term interest rates in the domestic financial market. — ONA