Muscat: The total issuance of Government Treasury Bills has reached a significant amount of RO 50.15 million, marking a notable event in the financial landscape of Oman. These Treasury Bills have been allotted for a maturity period of 91 days.

According to Oman News Agency, the Treasury Bills were issued at an average accepted price of RO 98.953 for every RO 100, with the minimum accepted price standing at RO 98.940 per RO 100. The financial instruments have an average discount rate of 4.19856% and an average yield of 4.24298%.

Treasury Bills, issued by the Ministry of Finance, are short-term and highly secured financial instruments. They offer licensed commercial banks in Oman the opportunity to invest their surplus funds effectively. The Central Bank of Oman (CBO) plays a crucial role as the Issue Manager, providing additional benefits such as ready liquidity through discounting and repurchase facilities (Repo).

The interest rate on the Repo operations with the CBO is currently set at 5.00%, while the discount rate on the Treasury Bills Discounting Facility is 5.50%. These rates contribute to promoting the local money market by establishing a benchmark yield curve for short-term interest rates, and they offer the government a tool for financing recurrent expenditures when necessary.