The central bank's latest treasury bill (T-bill) auction attracted offers of six billion Birr, less than half of the 16 billion Br worth of bills up for bids. The auction was held on December 1, 2021, a day after the central bank lifted the freeze on collateralized loans, which had been in effect for nearly four months. The auction saw 5.8 billion Br in competitive bids while offers on non-competitive bids totalled 277 million Br. No bids were received on T-bills with a maturity period of 90 days. The central bank's previous auction had managed to collect 21.2 billion Br. The average yield of the T-bills ranged from 7.8 to 9.1pc, similar to the rates observed in recent auctions.
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