Treasury bills auction oversubscribed by K1.1bn

TRYNESS TEMBO
Lusaka
A TREASURY bills auction conducted by the Bank of Zambia last week was oversubscribed, attracting bids to a sum of K3.45 billion against an offer of K2.3 billion.
This means the demand for financial securities exceeded the total initial target that was offered.
According to auction results released by the Financial Markets Department at BoZ, total bids received amounted to over K3.45 billion, of which about K3.03 billion was borrowed.
In the 364 days tenor, investors offered K2.56 billion, with K2.55 billion loaned, while the 273 days tenor received bids amounting to K240 million, and K240 million was borrowed.
A bid amount of K51.02 million was received in the 182 days tenor, but only K48.73 million was allocated, while in the 91 days tenor K192.82 million was borrowed against an offer of K188.36 million …https://enews.daily-mail.co.zm/welcome/home