The Central Bank of Kenya(CBK) accepted bids worth KSh 18.7 Billion from last week’s Treasury Bills Auction out of KSh 24 Billion offered to investors, a performance of 84.1%.
Bids received amounted to KSh 20.2 Billion as investors trooped back to these instruments after giving them a wide berth for several weeks.
Out of the accepted bids, KSh 15.8 Billion comprised competitive bids while KSh 2.9 Billion was made up of non-competitive bids.
While the CBK floated 4 Billion worth of the 91-day Treasury Bills, the 182 day Bills and the one year Treasury Bills were each worth KSh 10 Billion.
In this auction, average interest rates for the accepted bids was 6.267%, 6.689% and 7.564% for the three months, six months and one year T Bills respectively.
The next Treasury Bills Auction, which targets to raise KSh 24 Billion- which is now open, closes on 17th September 2020 with results to be announced on 18th September 2020.
Payments from successful bidders must reach the CBK not later than 21st September 2020.
Non-competitive bids are subject to a maximum of KSh 20 Million per investor account per tenor. This requirement, however, excludes State Corporations, public universities and semi-autonomous government agencies.
