TREASURY bills were last week oversubscribed at K602.7 million with majority participants being foreign-based, the Bank of Zambia (BoZ) has said.
BoZ governor Michael Gondwe said the treasury bills that were oversubscribed by K127.6 million signify investor confidence in the Zambian market.
Last week, the central bank auctioned treasury bills amounting to K475.1 million.
“The Bank of Zambia wishes to notify members of the public that the results of the treasury bills tender number 12/2014 were announced on Thursday 12th June, 2014.
“The bank further wishes to announce that the total bids which were received in the tender amounted to K602.7 million, while the allocation amounted to K475.1 million,” Dr Gondwe said in a statement issued in Lusaka on Friday.
Dr Gondwe also said the Kwacha on Thursday witnessed an appreciation against major convertible currencies with the local unit closing the trading session at K6.27 on the bid and K6.29 on offer.
“In addition to the positive indicators on the securities market, the bank further continued to witness an encouraging performance of the local currency against its convertible partners,” he said.
The Kwacha closed trading on Thursday June 12 at K6.27 on the buying and K6.29 on the selling sides.
Zambia Daily Mail