Oman's central bank raises OMR72 million from treasury bills

Muscat: Oman's central bank raised OMR72 million from treasury bill auction. The treasury bills has a maturity period of 28 days, from November 1 until November 29, 2017. The average accepted price reached 99.923 for every OMR100, and the minimum accepted price arrived at 99.920 per OMR100. The average discount rate and the average yield reached 1.00936 per cent and 1.01015 per cent, respectively.
The interest rate on the Repo operations with CBO is 1.742 per cent for the period from October 31 to November 6, while the discount
rate on the Treasury Bills Discounting Facility with CBO is 2.492 per cent for the same period.
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 CBO.
The treasury bills promote the local money market by creating a benchmark yield curve for short-term interest rates. Additionally, the Government (MOF) may also resort to this instrument whenever felt
necessary for financing its recurrent expenditures.