Muscat: Oman's central bank has announced that the total value of treasury bills allocated in this week's government issuance reached OMR 25 million.

According to Qatar News Agency, the Central Bank of Oman stated that OMR 11 million was allocated to treasury bills with a maturity of 28 days. These were accepted at an average price of OMR 99.707 per OMR 100, with the lowest accepted price at 99.705. The average discount rate stood at 3.8159%, while the average yield reached 3.8271%.

An additional OMR 14 million was allocated to 91-day treasury bills, with an average accepted price of OMR 99.031 and a lowest accepted price of OMR 99.030 per 100. The average discount rate for this tranche was 3.8878%, and the average yield was 3.9259%.

The central bank said the interest rate on repurchase (repo) operations for these treasury bills is set at 4.25%, while the discount rate applied to treasury bill facilities stands at 4.75%.

Treasury bills are short-term, government-backed financial instruments issued by Oman's Ministry of Finance to provide investment opportunities for licensed commercial banks. The Central Bank of Oman acts as the issuing and managing authority for these securities.