Tender
Results of Government Treasury Bills Worth RO 9.25 Million IssuedMuscat,
13 Oct (ONA) — The total issuance of Government Treasury Bills amounted to RO
9.25 million this week for a maturity period of 91 days. The average accepted price
reached RO 99.055 for every RO 100 and the minimum accepted price arrived at RO
99.050 per RO 100. The average discount rate and the average yield reached
3.78876% and 3.82489%, 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 4.75%
while the discount rate on the Treasury Bills Discounting Facility with CBO is
5.25%.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.—
Ends/Khalid