Muscat: The total issuance of Government Treasury Bills amounted to RO 22 million, with the entire allotment designated for a maturity period of 91 days. The average accepted price for these bills was RO 98.933 per RO 100, and the minimum accepted price was noted at RO 98.930 per RO 100. Furthermore, the average discount rate was recorded at 4.27900%, while the average yield stood at 4.32514%.

According to Oman News Agency, Treasury Bills are short-term, highly secured financial instruments issued by the Ministry of Finance. These instruments offer licensed commercial banks a platform to invest their surplus funds. The Central Bank of Oman (CBO) plays a pivotal role as the Issue Manager, providing added liquidity benefits through discounting and repurchase facilities (Repo).

The interest rate on Repo operations with the CBO is established at 5.00%, whereas the discount rate on the Treasury Bills Discounting Facility with the CBO is pegged at 5.50%. Treasury Bills are instrumental in fostering the local money market by establishing a benchmark yield curve for short-term interest rates. Additionally, the Government may utilize this financial instrument as needed to finance recurrent expenditures.