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Oman's central bank raises OMR62m through treasury bills
January 16, 2018 | 3:32 PM
by ONA
The average accepted price reached 99.653 for every OMR100 while the minimum accepted price arrived at 99.635 per OMR100. - File picture
 
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Muscat: Oman's central bank raised OMR62 million by way of treasury bills. The maturity period of the treasury bills is 91 days between January 17 and April 18, 2018.

The average accepted price reached 99.653 for every OMR100 while the minimum accepted price arrived at 99.635 per OMR100. The average discount rate and the average yield reached 1.39252 per cent and 1.139739 per cent, respectively.

The interest rate on the Repo operations with the Central Bank of Oman (CBO) is 2.056 per cent for the period from January 16 and 22, while the discount rate on the treasury bills discounting facility with CBO is 2.806 per cent for the same period.

The treasury bills are short-term highly secured financial instruments issued by the 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 the central bank.



Further, the 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 current expenditure.

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