CBO issues treasury bills worth Ro68mn

Interest rate on repo operations with CBO is 6.00%, while the discount rate on the Treasury Bills Discounting Facility with the central bank is 6.50%

The Central Bank of Oman (CBO) announced this week the issuance of two tenders of government treasury bills worth a total of Ro68mn.

The value of the allotted treasury bills amounted to Ro17mn for a maturity period of 28 days. The average accepted price was RO99.600 for every RO100 bill, with the minimum accepted price also at RO99.600. The average discount rate and yield reached 5.2142% and 5.2352%, respectively.

For the treasury bills with a maturity period of 91 days, the value of the allotted bills amounted to Ro51mn. The average accepted price for every RO100 bill was RO98.662, with the minimum accepted price at RO98.660. The average discount rate and yield reached 5.3668% and 5.4396%, respectively.

The interest rate on repo operations with CBO is 6.00%, while the discount rate on the

Treasury Bills Discounting Facility with the central bank is 6.50%.

Treasury bills are short-term highly secured financial instruments issued by the Ministry of Finance, providing licensed commercial banks with the opportunity to invest their surplus funds. The Central Bank of Oman acts as the issue manager and provides the added advantage of ready liquidity through discounting and repurchase facilities (Repo).

Furthermore, treasury bills promote the local money market by creating a benchmark yield curve for short-term interest rates. The government may also resort to this instrument whenever necessary to finance its recurrent expenditures.