Tender Results of Government Treasury Bills Worth RO 23.4 Million Issued

Muscat: The total issuance of Government Treasury Bills amounted to RO 23.4 million. The value of the allotted Treasury bills amounted to RO 1.2 million, for a maturity period of 28 days. The average accepted price reached RO 99.700 for every RO 100, and the minimum accepted price arrived at RO 99.700 per RO 100. The average discount rate and the average yield reached 3.91071% and 3.92248%, respectively. According to Oman News Agency, the value of the allotted Treasury bills amounted to RO 22.2 million, for a maturity period of 91 days. The average accepted price reached RO 98.944 for every RO 100, and the minimum accepted price arrived at RO 98.930 per RO 100. The average discount rate and the average yield reached 4.23683% and 4.28209%, respectively. The 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 pr ovides the added advantage of ready liquidity through discounting and repurchase facilities (Repo). 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, the 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.