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FINANCIAL NEWS
Oman treasury bills worth USD2.3mn
20 Jul 2016
(MENAFN) Oman has issued treasury bills worth USD2.3mn this year, while the average accepted price reached 99.959 for every USD258.83mn.
The treasury bills will help the licensed commercial banks to gainfully invest their surplus funds, with added advantage of ready liquidity through discounting facilities.
Moreover, the treasury bills promote the regional money market by making a benchmark yield curve for short-term interest rates.
In addition, the interest rate on the repo operations is 1 percent for the period between July 19 and 25, while the discount rate on the treasury bills discounting is 1.75 percent.
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