Tuesday 05 / November / 2024
Muscat: The Central Bank of Oman (CBO) raised OMR23.4 million by a way of allotting treasury bills on Monday.
The value of the allotted treasury bills amounted to RO 3.1 million, for a maturity period of 28 days.
The average accepted price reached RO 99.671 for every RO 100, and the minimum accepted price arrived at RO 99.670 per RO 100. The average discount rate and the average yield reached 4.28917% and 4.30333%, respectively.
The value of the allotted treasury bills amounted to RO 7 million, for a maturity period of 182 days.
The average accepted price reached RO 97.686 for every RO 100, and the minimum accepted price arrived at RO 97.680 per RO 100. The average discount rate and the average yield reached 4.63985% and 4.74974%, respectively.
On the other hand, the value of the allotted treasury bills amounted to RO 13.3 million, for a maturity period of 364 days.
The average accepted price reached RO 95.469 for every RO 100, and the minimum accepted price arrived at RO 95.450 per RO 100. The average discount rate and the average yield reached 4.54365% and 4.75945%, 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 th eadded 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 5.50% while the discount rate on the Treasury Bills Discounting Facility with CBO is 6.00%.
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.
