Tender Results of Government Treasury Bills
Worth RO 7.5 Million IssuedMuscat, 12 May
(ONA) — The total issuance of Government Treasury Bills amounted to RO 7.5
million this week.The value of
the allotted Treasury bills amounted to RO 7.5 million, for a maturity period
of 91 days. The average accepted price reached RO 98.975 for every RO 100, and
the minimum accepted price arrived at RO 98.975 per RO 100. The average
discount rate and the average yield reached 4.11126% and 4.15384%, 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 5.00% while the
discount rate on the Treasury Bills Discounting Facility with CBO is 5.50%. 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