Treasury bills under-subscribed

THE Bank of Zambia (BoZ) treasury bills auction was under-subscribed, attracting bids amounting to about K1.035 billion against an offer of K1.3 billion.
Treasury bills are short-term instruments that Government issues to borrow money through the central bank for a period of one year or less.
According to Zanaco Bank, during the treasury bills auction on Thursday, yields on 91 days, 182 days and 273 days were maintained at 14.0000 percent, 16.0000 percent and 19.6501 percent respectively, while the yield on 364 days grew to 24.5227 percent from 24.5000 percent.
The auction was under-subscribed as out of the K1.3 billion offered at CLICK TO READ MORE

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