CBO issues treasury bills worth OMR68mn

CBO issues treasury bills worth OMR68mn

Muscat: The Central Bank of Oman (CBO) raised OMR68 million by way of allotting treasury bills on Monday.

The value of the allotted treasury bills amounted to OMR17 million, for a maturity period of 28 days. The average accepted price reached OMR99.600 for every OMR100, and the minimum accepted price arrived at OMR99.600 per OMR100. The average discount rate and the average yield reached 5.21429 per cent and 5.23523 per cent, respectively.

The value of the allotted treasury bills amounted to OMR51 million, for a maturity period of 91 days. The average accepted price reached 98.662 OMR for every OMR 100, and the minimum accepted price arrived at OMR 98.660 per OMR100. The average discount rate and the average yield reached 5.36686 per cent and 5.43965 per cent, respectively.

The 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 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