CBO issues treasury bills worth OMR29.45 million

CBO issues treasury bills worth OMR29.45 million

Muscat: The Central Bank of Oman (CBO) raised OMR29.45 million by way of allotting treasury bills on Tuesday.

The value of the allotted treasury bills amounted to OMR10 million, for a maturity period of 28 days. The average accepted price reached OMR99.590 for every OMR100, and the minimum accepted price arrived at OMR99.590 per OMR100. The average discount rate and the average yield reached 5.34464 per cent and 5.36665 per cent, respectively.

Whereas, the value of the allotted Treasury bills amounted to OMR19.45 million, for a maturity period of 91 days. The average accepted price reached OMR98.660 for every OMR100, and the minimum accepted price arrived at RO 98.660 per OMR100. The average discount rate and the average yield reached 5.37473 per cent and 5.44772 per cent, 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 6.00 per cent while the discount rate on the