NAIROBI (Xinhua) --
Investors’ uptake of the Kenyan government
securities increased significantly for the first time in three
auctions this week boosted by high liquidity in the money
The three government
Treasury bills recorded an overall subscription of 106.4 percent
up from 66.8 percent in the previous week, the Central Bank said
in its weekly brief received Saturday.
“The improvement in
performance was due to high liquidity conditions in the market,”
said the bank, attributing the situation to improved government
The auction for the
securities received bids totaling 255 million U.S. dollars
against an advertised amount of 240 million dollars.
“The 91-day and
364-day tenures were oversubscribed at 128.4 percent and 144.3
percent, respectively. The 182-day tenure was, however,
undersubscribed at 59.7 percent. Interest rates on all Treasury
bill tenors declined,” said the Central Bank.
Meanwhile, the high
liquidity helped to lower the interbank rate to 2.86 percent
from 3.83 percent, enabling banks to borrow from each other