The Central Bank of Oman on Tuesday collected this amount by allocating treasury bills worth 65 million Omani rials (OMR). This scheme acts as a key tool for financing the government's current needs and strengthening the local financial market.
Treasury Bill Details
The allocated treasury bills included 10 million Omani rials with a maturity period of 28 days. The average accepted price for every 100 Omani rials reached 99.700 rials, and the minimum accepted price was also 99.700 rials. The average discount rate and average yield reached 3.91071% and 3.92248%, respectively.
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Additionally, 44.5 million Omani rials were allocated for a 91-day maturity period. The average accepted price for every 100 Omani rials was 98.972 rials, and the minimum price was 98.965 rials. The average discount rate and average yield reached 4.12298% and 4.16580%, respectively.
Impact of Treasury Bills on the Financial Market
On Tuesday, 10 million Omani rials were also allocated for a 182-day maturity period. The average accepted price reached 97.910 rials for every 100 Omani rials, and the minimum price was also 97.910 rials. The average discount rate and average yield were recorded at 4.19148% and 4.28096%, respectively.
Furthermore, 0.5 million Omani rials were allocated for a 364-day maturity period. The average accepted price reached 96.350 rials for every 100 Omani rials, and the minimum price was also 96.350 rials. The average discount rate and average yield were recorded at 3.66003% and 3.79868%, respectively.
Treasury bills, as short-term and highly secure financial instruments, are issued by the Ministry of Finance of Oman, allowing authorized commercial banks to utilize their surplus funds. The Central Bank of Oman, as the issuer's manager of these bills, provides additional advantages by offering liquidity facilities through discounting and repurchase operations (Repo).
The interest rate on Repo operations with the Central Bank of Oman is set at 4.50%, and the discount rate on treasury bill discount facilities is announced at 5.00%. These bills help strengthen the local money market and can serve as a benchmark for short-term interest rates. Additionally, the government can utilize this tool to cover its current expenses when necessary.
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