Yesterday the Central Bank of Kenya (CBK) auctioned 182 day Treasury Bills worth KES 2 billion. This is similar to the amount auctioned at the previous auction. Yesterday’s auction was however quite different than last week’s.
For one, the number of bids received increased from 73 last week to 77 this week. Though this is not a drastic increase the jump in the value of the bids is. Last week, the bids amounted to KES 283 million; this week however, the bids amounted to KES 2.4 billion. The meagre subscription rate of 14% now stands at 121%. This is an oversubscription, characteristic of government securities.
Unlike last week when the yield on the 182 day bill rose from 10.327% to 10.75% this week the yield declined to 10.737%.
The bank accepted all bids.
The results of the auction are summarised below:
The next CBK auction is today where 91 day bills will be auctioned worth KES 2 billion.