Muscat: The total issuance of Government Treasury Bills has been announced, amounting to RO 23.4 million. The details of these Treasury bills include a significant allotment of RO 3.1 million for a maturity period of 28 days.

According to Oman News Agency, the average accepted price for these 28-day Treasury bills was RO 99.671 per RO 100, with a minimum accepted price at RO 99.670 per RO 100. The average discount rate was recorded at 4.28917%, while the average yield stood at 4.30333%.

Furthermore, Treasury bills worth RO 7 million were allotted for a 182-day maturity period. The average accepted price for these bills was RO 97.686 per RO 100, with the minimum at RO 97.680 per RO 100. The average discount rate and yield were noted at 4.63985% and 4.74974%, respectively.

In addition, another tranche of Treasury bills valued at RO 13.3 million was issued for a maturity period of 364 days. The average accepted price for these bills was RO 95.469 per RO 100, with the minimum accepted price at RO 95.450 per RO
100. The average discount rate was 4.54365% and the yield was 4.75945%.

Treasury Bills are regarded as short-term, highly secure financial instruments issued by the Ministry of Finance, allowing licensed commercial banks the opportunity to invest surplus funds. The Central Bank of Oman (CBO) manages these issuances and provides liquidity through discounting and repurchase facilities.

It is noteworthy that the interest rate on Repo operations with CBO is set at 5.50%, while the discount rate on the Treasury Bills Discounting Facility is 6.00%. Additionally, Treasury Bills play a crucial role in promoting the local money market by establishing a benchmark yield curve for short-term interest rates, and they are utilized by the Government for financing recurrent expenditures as needed.