Muscat, A tender of Government Treasury Bills,
issue number 128 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 5 million, for a maturity period of 182
days, from tomorrow Wednesday 18th July until 16th January 2019.
The average accepted price reached 98.800 for every RO 100 while
the minimum accepted price arrived at 98.800 per RO 100. The
average discount rate and the average yield reached 2.40659% and
2.43582% respectively.
The interest rate on the Repo operations with CBO is 2.579% for the
period from 17/7/2018 to 23/7/2018 while the discount rate on the
Treasury Bills Discounting Facility with CBO is 3.329% 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