NAIROBI (Xinhua) -- Kenya
accepted a record 230 million U.S. dollars from two Treasury bills it auctioned
this week amid swelling domestic debt.
The amount is
one of the highest the Central Bank of Kenya (CBK) has accepted from bidders of
the 91-day and 364-day Treasury bills in weeks, having suspended sale of 182-day
As in the
previous week, the CBK had put up for sale 91-day and 182-day Treasury bills
worth 194 million dollars, 97 million dollars from each.
number of bids received amounted to 121 million dollars representing 125 percent
subscription for the 91-day bill and 169 million dollars representing 174
percent subscription for the 364-day bill. Bids accepted amounted to 110 million
dollars for 91 days and 120 million dollars for the 364 days bills,” said the
CBK in auction results Friday.
average rate of accepted bids, which will be applied for non-competitive bids,
was 8.77 percent for the 91-day and 10.9 percent for 364-day bills, a rise of
0.013 and 0.006 respectively.
million dollars raised this week have pushed up the East African nation’s
domestic debt, which currently stands at 19.1 billion dollars.
A spike in
domestic borrowing particularly through weekly Treasury bills and monthly bonds
for budgetary support and infrastructure projects has raised the domestic debt
from 18.6 in the third quarter of last year.
borrowing is now at the highest level as the East African nation struggles to
meet its financial demands amid low revenue collection.
the country’s world first mobile-based Treasury bond targeting low income
earners raised 1.5 million dollars, with the paper being snapped up in just