Muscat: The total issuance of Government Treasury Bills stood at RO 9.2 million. The value of the allotted Treasury bills amounted to RO 5 million, for a maturity period of 28 days.

According to Oman News Agency, the average accepted price for these Treasury bills reached RO 99.720 for every RO 100, with the minimum accepted price being the same. The average discount rate and average yield were recorded at 3.65000% and 3.66025%, respectively.

The value of the allotted Treasury bills also included RO 3.2 million for a maturity period of 91 days. The average accepted price for these bills was RO 99.050 per RO 100, with an equal minimum accepted price. The average discount rate and average yield for this period were 3.81044% and 3.84699%, respectively.

Meanwhile, Treasury bills worth RO 1 million were allotted for a maturity period of 182 days. The average accepted price for these bills reached RO 98.070 per RO 100, with the minimum accepted price consistent. The average discount rate and average yield for this period were 3.87060% and 3.94678%, respectively.

Treasury Bills, issued by the Ministry of Finance, are short-term, highly secured financial instruments. They offer licensed commercial banks an opportunity to invest their surplus funds. The Central Bank of Oman (CBO) acts as the Issue Manager, providing added liquidity advantages through discounting and repurchase facilities (Repo).

The interest rate on Repo operations with the CBO is noted at 4.25%, while the discount rate on the Treasury Bills Discounting Facility with the CBO stands at 4.75%. Treasury bills play a crucial role in promoting the local money market by establishing a benchmark yield curve for short-term interest rates. Additionally, the government may utilize this instrument to finance its recurrent expenditures when necessary.