Muscat: The total issuance of Government Treasury Bills amounted to RO 2.1 million. The value of the allotted Treasury bills reached RO 0.6 million, with a maturity period of 91 days. The average accepted price stood at RO 99.050 for every RO 100, while the minimum accepted price was RO 99.050 per RO 100. The average discount rate and average yield were 3.81044% and 3.84699%, respectively.

According to Oman News Agency, the value of the allotted Treasury bills also included RO 1.5 million for a maturity period of 364 days. The average accepted price was RO 96.210 for every RO 100, with the minimum accepted price at RO 96.210 per RO 100. The average discount rate and average yield reached 3.80041% and 3.95012%, respectively.

Treasury Bills, which are short-term highly secured financial instruments, are issued by the Ministry of Finance to provide licensed commercial banks with investment opportunities for their surplus funds. The Central Bank of Oman (CBO) serves as the Issue Manager, offering the added advantage of ready liquidity through discounting and repurchase facilities (Repo).

It is noteworthy that the interest rate on Repo operations with CBO is 4.25%, while the discount rate on the Treasury Bills Discounting Facility with CBO is 4.75%. Furthermore, Treasury Bills contribute to the local money market by establishing a benchmark yield curve for short-term interest rates. Additionally, the Government may utilize this instrument whenever necessary to finance its recurrent expenditures.