The total issuance of Government Treasury bills (T-bills) in Oman amounted to OMR50.5 million ($131.3 million). The value of the allotted Treasury bills amounted to OMR2 million, for a maturity period of 91 days, Oman News Agency (ONA) reported.
The average accepted price reached OMR98.935 for every OMR100, and the minimum accepted price arrived at OMR98.935 per OMR100. Additionally, the average discount rate and the average yield reached 4.27170 percent and 4.31769 percent, respectively.
Meanwhile, the value of the allotted Treasury bills amounted to OMR28.5 million, for a maturity period of 182 days, Oman News Agency (ONA) reported.
Read more: Oman’s Central Bank issues Treasury bills worth $59.7 million
Discount rates and yields overview
The average accepted price reached OMR97.850 for every OMR100, and the minimum accepted price arrived at OMR97.850 per OMR100. The average discount rate and the average yield reached 4.31181 percent and 4.40655 percent, respectively.
Additionally, the value of the allotted Treasury bills amounted to OMR20 million, for a maturity period of 364 days. The average accepted price reached OMR95.780 for every OMR100, and the minimum accepted price arrived at OMR95.760 per OMR100. The average discount rate and the average yield reached 4.23159 percent and 4.41804 percent, respectively.
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) acts as the Issue Manager and offers the added advantage of ready liquidity through discounting and repurchase facilities (Repo).
It may be noted that the interest rate on Repo operations with CBO is 5.00 percent, while the discount rate on the Treasury bills Discounting Facility with CBO is 5.50 percent.
Furthermore, Treasury bills promote the local money market by creating a benchmark yield curve for short-term interest rates. Additionally, the Government may resort to this instrument whenever necessary for financing its recurrent expenditures.
