Muscat: The total issuance of Government Treasury Bills this week amounted to RO 53.05 million. The value of the allotted Treasury bills was RO 0.15 million, for a maturity period of 28 days.
According to Oman News Agency, the average accepted price for these bills reached RO 99.700 for every RO 100, with the minimum accepted price also at RO 99.700 per RO 100. The average discount rate was 3.91071%, and the average yield was 3.92248%.
For a maturity period of 91 days, the value of the allotted Treasury bills was RO 36.4 million. Here, the average accepted price was RO 98.975 for every RO 100, with the minimum accepted price at RO 98.970 per RO 100. The average discount rate was recorded at 4.11314%, while the average yield reached 4.15575%.
Furthermore, Treasury bills worth RO 16.5 million were allotted for a maturity period of 182 days. The average accepted price was RO 97.845 for every RO 100, and the minimum accepted price was RO 97.840 per RO 100. The average discount rate and the average yield were 4.32214% and 4.41735%, respectively.
Treasury Bills are short-term, highly secured financial instruments issued by the Ministry of Finance, providing licensed commercial banks the opportunity to invest surplus funds. The Central Bank of Oman (CBO) acts as the Issue Manager, offering the added advantage of ready liquidity through discounting and repurchase facilities (Repo).
The interest rate on Repo operations with CBO is 5.00%, while the discount rate on the Treasury Bills Discounting Facility with CBO is 5.50%. Treasury Bills also help promote the local money market by creating a benchmark yield curve for short-term interest rates. Additionally, the Government may use this instrument to finance its recurrent expenditures when necessary.
