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Over-subscription for treasury bills

GOVERNMENT through the Bank of Zambia (BoZ) has continued to limit its domestic borrowing within target range despite over-subscription of treasury bills to K3.1 billion.
Recently, the central bank indicated that auction sizes for treasury bills and government bonds for the remainder of the year will not exceed K1.4 billion and K1.5 billion respectively.
According to auction results of treasury bills number 20 of 2021 held on Thursday, the total bids received amounted to K3.100.17 billion at face value, but only K1.542.50 billion was borrowed.
In the 364 days tenor, bids worth K2 billion were received but only K797.72 million was accepted, while for the 273 days tenor, K328.02 million was accepted from bids amounting to K407.69 million.
In the 182 days tenor, K408.04 million was offered but only K201.52 million was accepted, with K279.55 million being offered in the CLICK TO READ MORE