The first Treasury bill auction for government's new fiscal was on Thursday
oversubscribed by 81 per cent, signifying easing of liquid scarce in the
economy.
The
Bank of Tanzania (BoT) sought to raise 100bn/- through the short term
instrument, but the market tendered 181.06bn/- despite dropping yield rates.
Standard
Chartered Bank, quoting BoT, said at the end of the auction, the central bank
accepted 102.75bn/-, being an increase of the seeking amount by 2.75bn/-.
The
T-bill average yield rate for 35days slid down by almost half from 8.09 per
cent to 4.50 per cent, but the amount offered was 12bn/- against 5.0bn/- on
offer.
On
the other hand, the 91-day bill interest rate also slightly increased from
13.31 to 13.38 per cent but the amount tendered was somewhat below that on
offer of 30bn/-. It was undersubscribed by 1.38bn/-. BoT accepted only 16bn/-.
The
182 and 364-day bills both saw a slightly decrease in yield rates by 0.4 percentage points to 13.41 per cent
and 0.63 percentage points to 14.01 per cent, respectively.
However,
the decrease in interest could not deter investors from bidding for the bills
which both were oversubscribed heavily.
The
182-day bill was subscribed at 37.77bn/- against the 30bn/- on offer while the
364-day was oversubscribed to 102.67bn/- against 35bn/- offered.
Meanwhile
the shilling lost further ground in the morning session of yesterday before
recouping the ground in the afternoon session.
Source: The Daily News,http://www.dailynews.co.tz, reported by Abduel Elinaza
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