CBO issues treasury bills worth OMR70 million

CBO issues treasury bills worth OMR70 million

Muscat: The Central Bank of Oman (CBO) raised OMR70 million by way of allotting treasury bills on Monday.

The value of the allotted treasury bills stood at OMR30 million, for a maturity period of 28 days. The average accepted price reached OMR99.605 for every OMR100, and the minimum accepted price arrived at OMR99.605 per OMR100.

The average discount rate and the average yield reached 5.14911 percent and 5.16953 percent, respectively.

The value of the allotted treasury bills amounted to OMR40 million, for a maturity period of 91 days. The average accepted price reached OMR98.666 for every OMR100, and the minimum accepted price arrived at OMR98.665 per OMR100. The average discount rate and the average yield reached 5.34865 percent and 5.42094 percent, respectively.

Treasury Bills are short-term highly secured financial instruments issued by the Ministry of Finance, and they provide licenced 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 percent while the discount rate on the Treasury Bills Discounting Facility with CBO is 6.50