Doha: The Oman Central Bank (OCB) has announced that the total value of government treasury bills allocated for this week amounted to OR 50.15 million.

According to Qatar News Agency, the OCB explained in a statement Monday that the value of the bills allocated for a maturity period of 91 days amounted to OR 50.15 million, with an average acceptable price of OR 98.953, and the lowest acceptable price reached OR 98.940 per OR100. The average discount rate reached 4.19856 percent, and the average return was 4.24298 percent.

The statement indicated that the interest rate on repurchase operations with the Oman Central Bank (repo) on these bills is 5 percent, while the discount rate with the Oman Central Bank on treasury bill facilities is 5.50 percent.

Treasury bills are a short-term, guaranteed financial instrument issued by the Ministry of Finance to provide investment opportunities for licensed commercial banks. The Central Bank of Oman acts as the issuance manager for these bills.