Muscat, A tender of Government Treasury Bills,

issue number 64 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 6.5 million, for a maturity period

of 28 days, from tomorrow (Wednesday), 5 September until 3 October

2018.

The average accepted price reached 99.481 for every RO 100

while the minimum accepted price arrived at 99.840 per RO 100. The

average discount rate and the average yield reached 2.07067% and

2.07397% respectively.

The interest rate on the Repo operations with CBO is 2.61% for

the period from 4/9/2018 to 10/9/2018 while the discount rate on the

Treasury Bills Discounting Facility with CBO is 3.36% for the same

period.

The 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, 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