The central bank's latest auction of treasury bills (T-bills) saw a total of 15.7 billion Br worth of bids. The government-guaranteed bonds are auctioned off bi-monthly to financial institutions, pension funds and individuals. The National Bank of Ethiopia had brought a total of 23.1 billion Br worth of bills to the table. T-bills with 365-day maturity periods garnered the most offers (seven billion Birr) during the auction on April 20, 2022. The cutoff yield for the bills stood at 10.3pc, three percentage point higher than the minimum interest rate offered on savings. Bills with 90-day maturity periods also garnered their share of attention, with bidders offering 200 million Br more than the bonds on offer.
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