CBO issues treasury bills worth OMR31 million

CBO issues treasury bills worth OMR31 million

Muscat: The Central Bank of Oman (CBO) raised OMR31 million by way of allotting treasury bills on Monday. The value of the allotted treasury bills amounted to OMR15 million, for a maturity period of 28 days. The average accepted price reached OMR99. 592 for every OMR100, and the minimum accepted price arrived at RO 99. 590 per OMR100. The average discount rate and the average yield reached 5. 32292 per cent and 5. 34474 per cent, respectively. Whereas, the value of the allotted treasury bills amounted to OMR16 million, for a maturity period of 91 days. The average accepted price reached OMR98. 661 for every OMR100, and the minimum accepted price arrived at OMR98. 660 per OMR100. The average discount rate and the average yield reached 5. 37096 per cent and 5. 44386 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