Business

Central bank collects K300 million extra

NANCY MWAPE, Lusaka
LAST Thursday’s treasury bill auction was oversubscribed by over K300 million, a sign of investor confidence in the debt instrument market.
In the recent past, treasury bill auctions were undersubscribed.
The Bank of Zambia (BoZ) was on the market targeting to borrow K1.3 billion but instead raised K1.6 billion.
“The auction was oversubscribed. Out of K1,300.00 billion offered at cost, K1,678.34 billion was allocated at cost,” stated the Zanaco Bank daily treasury newsletter issued on Friday.
During the treasury bill auction, yields on 91, 182 and 273 days were maintained at 14.0000 percent, 16.0000 percent and 19.6501 percent respectively while the 364 days yield grew from 24.5227 percent to 24.5500 percent.
On the money market, Zanaco reports that liquidity grew to K4,320.08 million from K4,182.72 million while volumes traded on the CLICK TO READ MORE


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