Nairobi, Sept. 14 -- The Treasury bill auction remained undersubscribed last week as investors eye this week's bond auction whose sale concludes tomorrow.
Central Bank of Kenya (CBK) said on Thursday that it had received bids worth Sh20.18 billion against its target of Sh24 billion at the weekly auction.
The financial regular, who is also the government's fiscal agent, accepted a total of Sh18.69 billion, out of which Sh14.44 billion went towards settling maturities. Although this is the fifth straight week of undersubscribed Treasury bill sales, the yields on the three tenors of 91, 182 and 364-days have been little changed over the period, partly due to limited pressure on the government to borrow heavily on short term paper due to good...