The Treasury continued to borrow through short-term domestic debt securities for the third week in a row in light of an estimated Sh106 billion repayment obligations this month. The Central Bank said it accepted six-month T-bills valued at Sh15.50 billion against a target of Sh6 billion. A further Sh9.48 billion was accepted from bids for 364-day T-bills against Sh6 billion on Wednesday. Average interest rates were, however, flat week-on-week at an average of 10.52 per cent for the 182-day paper, and 10.94 for the one-year T-bills. An assessment by Cytonn Investments analysts last month established that maturities will hit Sh106 billion this month.
