CBO issues treasury bills worth OMR29 million

CBO issues treasury bills worth OMR29 million

Muscat: Oman's central bank raised OMR29 million by way of allotting treasury bills on Tuesday.The treasury bills are for a maturity period of 182 days, from October 28, 2020, until April 28, 2021.The average accepted price reached 99.723 for every OMR100 while the minimum accepted price arrived at 99.550 per OMR100. The average discount rate and the average yield reached 0.55497 per cent and 0.55695 per cent, respectively.Note that the interest rate on the Repo operations with (Central Bank of Oman) CBO is 0.5 per cent while the discount rate on the Treasury Bills Discounting Facility with CBO is 1 per cent.Treasury bills are short-term highly secured financial instruments issued by the CBO on behalf of the government, which help the licensed commercial banks to gainfully invest their surplus funds,