High demand drives T-bills market: BoT

Dar es Salaam. Investor appetite on government debt instruments, mainly Treasury bills, has continued to remain high, after the recent float held on Wednesday ended up being oversubscribed.

This is being experienced despite the reduced yields on some maturities.

The Wednesday T-bill auction result by Bank of Tanzania (BoT) has shown that the float was oversubscribed by 21.6 per cent.

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The auction results shows that the weighted average yield was lowered to 8.06 per cent on Wednesday April 17, compared to 8.57 per cent recorded during the previous float held on April 03, 2019.

A total of 94 bids valued Sh171.47 billion were tendered against offered Sh141 billion, which is oversubscription of Sh30.47 billion.

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