NAIROBI, Oct. 20 (Xinhua) -- Uptake of Treasury bills at the Kenyan debt market was subdued for the third week in a row as the East African nation's political climate remained hostile.
Out of the 233 million U.S. dollars sought through the sale of 91,182 and 364 days Treasury bills, the Central Bank only managed to raise 46 percent of the money, auction data from the institution showed Friday.
The apex bank put up for sale 91-day Treasury bills worth 39 million dollars and 182 and 364 days bills worth 98 million dollars each.
From the 39 million dollars sought from the three-month bill, the Central Bank managed to raise 15 million dollars only, a performance rate of 42 percent.
On the other hand, from the 182-day bill, the bank raised 45 million dollars, which is not even half of the money sought.
Similarly, from the 364-day bills worth 98 million dollars put up for sale, the apex bank managed to get 48 million dollars. The apex bank accepted bids worth 104 million dollars from the all the three short-term papers.
Subscription remained low even as interest rates for the papers during the week rose, with that of the 91-day standing at 8.09 percent from 8.07 while for 182-day 10.32 percent from 10.31 percent and for the one-year bill 10.98 percent from 10.99 percent.
Last week, overall Treasury bills subscription for the 91,182 and 364 days bills declined to a record 43 percent.
