CBO certificates of deposit tender results

Certificates of deposit tender was held at the Central Bank of Oman (CBO) this week. The total amount allotted for issue No. 836 was RO 373 million. A bulletin issued by the CBO here on Saturday stated that the average interest rate of these certificates was 0.13% whilst the maximum accepted interest rate was 0.13%. The tenor of these certificates is 28 days, so their maturity date is on October 30th. The certificates of deposit issued to licensed banks by the CBO as a monetary policy instrument aimed at absorbing excess liquidity at the banking sector in particular and maintaining stability of the interest rate and the money market in general. The Repo rate during October 2nd to 8th is 1%.