28 May 2015
Muscat: A tender of Government Treasury Bills, issue number 416, was held at the Central Bank of Oman (CBO) this week. The results of the issue are as follows:

The total value of the allotted Treasury Bills amounted to RO 60 million, for a maturity period of 91 days, from  May 27 until  August  26, 2015.

The average accepted price reached 99.958 for every RO 100, while the minimum accepted price arrived at 99.955 per RO 100.

The average discount rate and the average yield reached 0.16946 per cent and 0.16954 per cent respectively.

Treasury Bills are short-term highly secured financial instruments issued by CBO on behalf of the government, which helps the licensed commercial banks to gainfully invest their surplus funds, with added advantage of ready liquidity through discounting and repurchase facilities (Repo) offered by CBO.

Furthermore, Treasury Bills promote the local money market by creating a benchmark yield curve for short-term interest rates.

Additionally, the government may also resort to this instrument whenever felt necessary for financing its recurrent expenditures.

© Oman Daily Observer 2015