The central bank's latest treasury bill (T-bill) auction attracted offers totalling 43.9 billion Br. The National Bank of Ethiopia (NBE) had 20 billion Br worth of T-bills on offer during the auction held in the final week of February. Financial institutions and pension funds comprise the bidders at the bi-monthly auction. They bid 14 billion Br on each the three-month, half-year and one-year T-bills on offer. The yield rate of the bills has also grown. T-bills with a maturity of 28 days went for 10pc interest, a two percentage point increase from the previous auction. However, the rate for 91-day and 181-day bills showed a slight decline. The auctions are the primary sources the government plant to use for the 122 billion Br supplementary budget approved by Parliament earlier this year.
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