The Oman Central Bank (OCB) has announced that the total value of government treasury bills (T-bills) allocated for this week amounted to OMR31.15 million ($80.93 million)
According to the statement released by OCB, the value of the 28-day maturity treasury bills allocated was OMR15 million ($38.97 million). The average acceptable price was OMR99.650 per OMR100, with the lowest acceptable price reaching the same level. The average discount rate was 4.56250 percent, and the average return was 4.57852 percent.
Read more: Oman’s Q1 2024 GDP rises to $27.15 billion driven by non-oil sector growth
The value of the 91-day maturity treasury bills allocated was OMR16.15 million. The average acceptable price was OMR98.732 per OMR100, with the lowest acceptable price reaching OMR98.730 per OMR100. Additionally, the average discount rate was 5.08402 percent, and the average return was 5.14929 percent.
The statement also mentioned that the interest rate on repurchase operations (repo) with the OCB on these treasury bills is 6 percent, while the discount rate with the Central Bank on treasury bill facilities is 6.50 percent.
T-bills are short-term financial instruments issued by the Ministry of Finance, with the Oman Central Bank acting as the issuance manager, to provide investment outlets for licensed commercial banks.
Oman’s rise in global competitiveness index
Moreover, Oman rose to the 53rd spot globally and the 4th spot regionally, in the 2024 Competitive Industrial Performance (CIP) Index released by the United Nations Industrial Development Organization, The CIP evaluates and measures the industrial competitiveness of 153 economies worldwide.
Data from the National Centre for Statistics and Information (NCSI) showed that the output of converting industries reached OMR951 million at fixed prices by the end of the first quarter of 2024, representing a 9.2 percent increase compared to the same period in 2023. Converting industries further accounted for 10 percent of the sectoral contribution to Oman’s Gross Domestic Product (GDP).
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