NAIROBI (Xinhua) --
Investors’ uptake of Kenya’s Treasury bills surged to a record
high of nearly 300 percent this week, the first time in eight
Auction data from the Central Bank released
on Friday shows that overall subscription of the three
securities put on sale (91, 182 and 364) hit 281 percent this
week, from 131 percent the previous week.
Of the securities, the 91-day paper outperformed the rest,
recording a subscription of 355 percent from 31 percent in the
previous week, says the apex bank.
Subscription of the 182-day security stood at 244 percent
from 173 percent the previous week while for the 364-day at 288
percent, from 244 percent in the preceding auction, the data
Out of the 24 billion shillings (about 235 million U.S.
dollars) sought from the three papers, the Central Bank received
bids worth about 662 million dollars, according to Barua
Daniels, a manager of the financial markets.
It accepted bids worth some 440 million dollars, with the
high performance attributed to rising yields of the papers as
investors in search of higher interest shift to the debt market.