Muscat, A tender of Government Treasury Bills,

issue number 477 was held at the Central Bank of Oman (CBO) this

week.

The results of the issue are as follows: The total value of the allotted

Treasury bills amounted to RO 58 million, for a maturity period of 91

days, from tomorrow Wednesday 1st August until 31th October 2018.

The average accepted price reached 99.481 for every RO 100 while

the minimum accepted price arrived at 99.420 per RO 100. The

average discount rate and the average yield reached 2.08364% and

2.09458% respectively.

The interest rate on the Repo operations with CBO is 2.582% for the

period from 31/7/2018 to 6/8/2018 while the discount rate on the

Treasury Bills Discounting Facility with CBO is 3.332% for the same

period.

The Treasury Bills are short-term highly secured financial

instruments issued by the CBO on behalf of the Government, which

helps the licensed commercial banks to gainfully invest their surplus

funds, with the added advantage of ready liquidity through discounting

and repurchase facilities (Repo) offered by the CBO.

Furthermore, the Treasury Bills promote the local money market by

creating a benchmark yield curve for short-term interest rates.

Additionally, the Government (MOF) may also resort to this instrument

whenever felt necessary for financing its recurrent expenditures.

Source: Oman News Agency