After a period of strong investor demand, the Central Bank of Kenya (CBK) Treasury Bills auction in week thirteen slipped into undersubscription.
The CBK received total bids amounting to KES 10.92 billion against an offer of KES 24.0 billion, representing an overall performance of rate 45.5%. Across tenors, the 91-day paper recorded the strongest demand, receiving KES 2.57 billion in bids against a target of KES 4.00 billion, translating to a subscription rate of 64.9%.
The 364-day bill followed with a subscription rate of 54.9% after receiving KES 5.49 billion in bids against an offer of KES 10.00 billion. Meanwhile, the 182-day paper recorded the lowest uptake, attracting KES 2.83 billion in bids against a target of KES 10.00 billion, representing a subscription rate of 28.3%.
The CBK accepted a total of KES 10.86 billion.
CBK T-bill Yields Edge Lower
The average interest rates of accepted bids slipped across all tenors. The 91-day paper recorded the largest drop, falling by 14.18 bps to 7.4261% from 7.5679% in the previous auction. The 182 and 364-day bills’ interest rates declined by 1.07 bps and 6.30 bps, to 7.8292% and 8.2815%, respectively.
Also Read: CBK Launches KES 20 billion Switch Auction in March 2026
