Certificates of Deposit of CBO

(MENAFN- Qatar News Agency) Muscat, September 28 (QNA) - The Certificates of deposit tender was held at the Central Bank of Oman (CBO) this week. The total amount allotted for issue No. 835 was RO 393 million. A bulletin issued by the CBO and carried by Oman News Agency (ONA) 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 23rd. 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 September 25th to October 1st is 1%.