T-Bills oversubscribed by 3bn

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By Mnaku Mbani
The Treasury Bills floated on Wednesday by the Bank of Tanzania were oversubscribed by Tsh3 billion, indicating an increased investors’ appetite for short term securities market.
The bank of Tanzania auction results shows that a total of Tsh141.6 billion were tendered against an offer of Tsh138 billion. There were 221 bids but the bank only accepted 175 bids.

The results shows that the bid worth Tsh116 billion were successful, which indicates the bank has rejected bids amounting Tsh15 billion.
The auction results show that there has been a slight increase of yields for T-Bills as the yield went up to the average rate of 15.72 per cent yesterday from 15.64 per cent during the last auction on September 7 this year.
Analysts say many investors are currently interested in short term securities as large number of bids went to one, three and six months.

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