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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 
Holiday fever hits uptake of Kenya Treasury Bills

NAIROBI (Xinhua) -- Investors’ uptake of Kenya’s Treasury bills fell this week as holiday fever hit the east African nation’s debt market.

Auction data from the Central Bank of Kenya showed on Friday that the overall subscription of the three Treasury bills on offer (91, 182 and 364 days) fell to 65 percent this week, from 94 percent in the previous week.

Of the three Treasury bills, the worst performer was the 91-day paper, which raised 1 billion shillings (9.8 million U.S. dollars) out of the 39.6 million put on sale, said the apex bank.

On the other hand, the 182-day bill recorded a 54 percent subscription while the 364-day paper posted 94 percent. Bills worth 98 million dollars each were up for grabs for the two papers.

Last week, T-bills subscription rate stood at 94 percent, up from 24 percent recorded in the previous week, with the good performance partly attributed to improved liquidity in the money market.

           

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