Feb 19 , 2022
The treasury bill auction held on February 9, 2022, managed to raise 47.3 billion Br. The National Bank of Ethiopia (NBE) had 16 billion Br worth of bills on offer during the latest round of its bi-weekly auction. Bidding parties, which are mostly financial institutions and pension funds, offered 49 billion Br, triple what the central bank offered. Subsequently, the NBE accepted 47 billion Br of the total at a cut-off yield rate of 7.9pc to 12pc The highest yield rate was for T-bills with a maturity period of 182 days, which also attained the highest bid value at 18.5 billion Br. The lowest yield rate went for 28-day bills at 7.9pc. The previous auction held at the end of last month generated 14.6 billion Br. T-bills are a tool used to finance the government's budget deficit. A few weeks ago, Parliament approved a 122 billion Br supplementary budget, which officials say will be wholly covered by domestic sources.
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