By The Citizen Reporter
Dar es Salaam — The
Treasury Bills floated on Wednesday January 09, 2020 by the Bank of
Tanzania (BoT) has undersubscribed by 70 percent, signaling low
investors turnout as...
the year entered into the second week of this year.
The auction results
published on BoT website, Wednesday January 09, 2020 has shown that the
government targeted to collect a total of Sh107.2 billion but only
Sh34.4 billion tendered.
The report shows that a total of 23 bids received, but only 20 bids valued Sh28.8 billion were successful.
The 35-days, 91-days and 182-days maturity were oversubscribed, which indicated that investors were seeking short term earnings.
On 35-days
maturity, a total of Sh2 billion tendered against offered Sh1 billion
while the 91-days maturity a total of Sh3.4 billion tendered against
offered Sh1.7 billion.
For six months maturity, a total of Sh5.9 billion tendered against offered Sh3 billion.
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However, the one year maturity bills were undersubscribed by nearly quarter to Sh23 billion against offered Sh101.5 billion.
Similar experience
was also recorded during the previous auction held on December 24, last
year whereby a total of Sh62 billion tendered against offered Sh107.2
billion
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