Muscat: The total issuance of Government Treasury Bills amounted to RO 23 million, with the value of the allotted Treasury bills reaching RO 20 million for a maturity period of 28 days. The average accepted price was RO 99.720 for every RO 100, and the minimum accepted price was the same at RO 99.720 per RO 100. The average discount rate and the average yield for these bills were recorded at 3.65000% and 3.66025%, respectively.

According to Oman News Agency, an additional value of allotted Treasury bills amounted to RO 3 million, designated for a maturity period of 91 days. The average accepted price for these bills was RO 99.042 for every RO 100, while the minimum accepted price was slightly lower at RO 99.035 per RO 100. The average discount rate stood at 3.84386%, with an average yield of 3.88106%.

Treasury Bills are short-term, highly secured financial instruments issued by the Ministry of Finance, providing licensed commercial banks the opportunity to invest 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 the CBO is 4.25%, while the discount rate for the Treasury Bills Discounting Facility with the CBO is 4.75%. These Treasury Bills play a vital role in promoting the local money market by creating a benchmark yield curve for short-term interest rates. Additionally, the Government may utilize this instrument as needed for financing its recurrent expenditures.