NAIROBI, Oct. 13 (Xinhua) -- The uptake of Kenya's government securities by investors slowed down this week for the first time in many weeks.
Subscription for the three Treasury bills halved with the 182-day and 364-day papers, recording the worst performance.
"During the week ending Oct. 11, Treasury bills auctions achieved an average subscription rate of 63.7 percent, compared to 120.8 percent in the previous week," the Central Bank of Kenya (CBK) said in its weekly brief received Saturday.
The auctions received bids totaling 153 million U.S. dollars against the sought amount of 240 million dollars.
"There were mixed performances in the Treasury bills auctions but a general preference for the shorter tenure securities over the other securities," said the CBK.
The 182-day and 364-day bills were undersubscribed at 26.4 percent and 63.4 percent respectively, while the 91-day paper recorded a subscription of 157.6 percent.
Interest rates on all the Treasury bills sustained a downward trend during the week.
