(MENAFN) On Tuesday, the Central Bank of Oman successfully raised 14 million Omani Rials (USD36.41 million) through the allotment of government treasury bills. This was achieved through the issuance of two tranches amounting to 10 million Omani Rials and 4 million Omani Rials, respectively. The tranche worth 10 million Omani Rials had a maturity of 28 days and had an average expected price of 99.645 Omani Rials per 100 Omani Rials. The average discount rate and yield for this tranche were 4.62768 percent and 4.64417 percent, respectively.

The second tranche, worth 4 million Omani Rials, had a maturity of 91 days and an average expected price of 89.755 Omani Rials per 100 Omani Rials. The average discount rate and yield for this tranche were 4.99368 percent and 5.05664 percent, respectively. These treasury bills are short-term financial instruments issued by the Ministry of Finance, providing licensed commercial banks with the opportunity to invest their surplus funds. The Central Bank of Oman acts as the issuance manager for these bills, using them to provide ready liquidity to the market.

Furthermore, on May 4, the central bank raised the interest rate on repurchase operations, also known as repo, by 25 basis points to 5.75 percent for local banks. This move indicates the central bank's efforts to regulate the monetary policy in the country and ensure the stability of the financial system. The successful allotment of government treasury bills and the adjustment of interest rates both demonstrate the Central Bank of Oman's commitment to maintaining a healthy and sustainable financial environment in the country.

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