Nairobi, July 14 -- The Treasury is eyeing cheaper money from the domestic market after interest rate on short-term securities dipped to a seven-year low following increased liquidity in the money market.
Central Bank of Kenya (CBK) data shows rates for 90, 182 and 364-day Treasury bills fell to 6.27 percent, 6.76 percent and 7.7 percent respectively in last week's auction.
The last time they fell this low for the three-month and six-month papers was in July 2013 at 5.76 percent and 6.48 percent respectively
The 364-day T-bills were last recorded at the current low in May 2011.
In the week's auction, the CBK received bids worth Sh85.96 billion against an advertised amount of Sh24 billion, representing a performance of 358.2 percent. The...