MUSCAT: A tender of Government Treasury Bills, issue number 57, was held at the Central Bank of Oman (CBO) 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 28 days, from today until June 13.
The average accepted price reached 99.881 for every RO 100 while the minimum accepted price arrived at 99.880 per RO 100. The average discount rate and the average yield reached 1.55159 per cent and 1.55344 per cent respectively. The interest rate on the Repo operations with CBO is 2.434 per cent for the period from May 15 to 21, while the discount rate on the Treasury Bills Discounting Facility with CBO is 3.184 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 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