THE quest to raise 139.5bn/- through treasury bills auction was met after attracting bids to oversubscription supported by sufficient liquidity in the market.
The Bank of Tanzania (BoT) auction
summary shows that a total of 192.33bn/- was tendered although at the
end the government retained only 139.5bn/- as successful amount.
According to NMB e-market report shows that the market is liquid after
months of tight liquidity.
Interbank market is liquid, partly
contributed to end of month payroll. The overnight rates down to 15.58
per cent. Similarly, the shilling stability is continued to be
experienced with high agri inflows from cashew buyers and others more to
be expected beginning of the week with the on-going auction.
The market closed at 2170/2205 levels.
Yield rates increased slightly across all tenures that might have
contributed to positive performance of the short term government note.
The two tenures 364 and 182 days contributed about 99 per cent of the total bids while 91 and 35 shared less than one per cent.
The 364 and 182 days offer attracted
bids worth 105.78bn/-and 81.13bn/-respectively against 75.5bn/-and
59bn/- offered to the market for bidding while the 91 days and 35 days
offer attracted 4.2m/- and 1.20m/- respectively.
Yield rates for the 364 and 182 days
offer was 16.33 per cent and 15.46 per cent compared to 15.97 per cent
and 15.56 of the previous session held two weeks ago. The 91 days tenure
interest rate was 7.50 compared to 7.52 per cent of the preceding
session.
The highest and lowest bid/100 for the
364 and 182 days offers were 87.33/ 83.92 and 93.67/91.97 respectively
while for the 91 and 35 days tenor had 98.16/ 96.76 and 99.31/99.30. The
minimum successful price/100 for the 364, 182 and 91 days offer were
85.40, 92.78, 98.16 and 99.31 respectively.
The weighed average price for successful
bid for the 364 tenure was 86.00, the 182 days offer was 92.84, 91 days
offer was 98.16 and 99.31. Major investors in the one year treasury
bills are commercial banks, pension funds, insurance companies and some
micro-finance institutions
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