Last week, the Central Bank of Kenya offered 91-day and 182-day treasury bills for a total of Kshs. 7 billion. There were 157 bids for the 91-day bills amounting to Kshs. 1.6 billion and 156 bids for the 182-day bills amounting to Kshs. 7.05 billion. The CBK aimed at collecting Kshs. 4 billion from the 91-day bills (40% subscription with received bids totalling Kshs. 1.599 billion) and Kshs. 3 billion from the 182-day bills (hence 235% subscription with received bids totalling Kshs. 7.052 billion). The CBK has accepted bids amounting to Kshs. 1.6 billion for the 91-day bills and Kshs. 5.58 billion for the 182-day bills.

The average interest rates of the accepted bids dropped slightly from 16.340% to 16.078% for 91-day bills and 16.96% to 16.737% for 182-day bills.

Below is a table illustrating the above information.

The next treasury bills auction will be held on the 23^rd of March 2012 and the characteristics of the bills on offer are tabulated below.