Oman\'s CBO certificates of deposit tender results

Certificates of deposit (Issue No. 732) tender was held at the Central Bank of Oman (CBO) this week. The total amount allotted was RO. 138 million. A bulletin issued by the CBO, quoted by Oman News Agency (ONA) stated that the average interest rate of these certificates was 0.03% while the maximum accepted interest rate was 0.04%. The tenor of these certificates is 28 days, so their maturity date is of September 21st. 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 August 24th to 30th is 2%.