Oman Issues RO 20 Million in Government Treasury Bills, Yielding Competitive Rates

Oman, 9 July, 2024 :   Oman's Ministry of Finance has issued Government Treasury Bills totaling RO 20 million, with successful tender results announced recently.

For Treasury bills maturing in 28 days, RO 4 million worth of bills were allotted at an average price of RO 99.640 per RO 100. The average discount rate and yield were 4.69286% and 4.70981%, respectively.

Treasury bills maturing in 91 days saw RO 16 million allotted, priced at an average of RO 98.730 per RO 100. The average discount rate and yield stood at 5.09396% and 5.15948%, respectively.

These short-term, highly secured financial instruments allow licensed commercial banks to invest surplus funds, managed by the Central Bank of Oman (CBO) which offers liquidity through discounting and repurchase facilities (Repo). The CBO's Repo operations feature an interest rate of 6.00%, with a 6.50% discount rate on Treasury Bills Discounting Facility.

The issuance aims to bolster Oman's local money market, serving as a benchmark for short-term interest rates and supporting government financing needs.

Source : www.omannews.gov.om