Tender Results of Government Treasury Bills Worth RO 40.15 Million Issued.

Muscat: The total issuance of Government Treasury Bills amounted to RO 40.15 million. The value of the allotted Treasury bills amounted to RO 23 million, for a maturity period of 28 days. The average accepted price reached RO 99.687 for every RO 100, and the minimum accepted price arrived at RO 99.685 per RO 100. The average discount rate and the average yield reached 4.07791% and 4.09071%, respectively. According to Oman News Agency, the value of the allotted Treasury bills amounted to RO 17.15 million, for a maturity period of 91 days. The average accepted price reached RO 98.890 for every RO 100, and the minimum accepted price arrived at RO 98.890 per RO 100. The average discount rate and the average yield reached 4.45220% and 4.50217%, respectively. Treasury Bills are short-term highly secured financial instruments issued by the Ministry of Finance, providing 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 5.25% while the discount rate on the Treasury Bills Discounting Facility with CBO is 5.75%. 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.