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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

Appetite for Kenyan T-bills soars as yields stabilize   

NAIROBI (Xinhua) -- Kenya’s government short-term securities were heavily oversubscribed this week as investors’ appetite for the papers soared.

The National Treasury, through the Central Bank, floated Treasury bills worth 240 million U.S. dollars.

Data from the apex bank showed on Saturday that the Treasury bills auction received bids totaling 328 million dollars, a subscription rate of 136.83 percent.

“The government securities market continued the good performance witnessed in the recent months. All the three instruments offered were oversubscribed, with the 364-day Treasury bill getting the highest subscription rate of 155 percent,” said the Central Bank.

Interest rates of the securities largely remained stable, with the 91-day Treasury bill rate edging down from 8 percent to 7.97 percent.

In addition, rates for the 182-day bills stood at 10.26 percent.

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