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The Reserve Bank of Zimbabwe (RBZ) yesterday opened its 272-day Treasury Bills under which it is aiming to mobilise $200 million to fund Government operations.
The offer is open to financial institutions such as commercial banks, building societies as well as the Infrastructure Development Bank of Zimbabwe and the Post Office Savings Bank.
Last week the central bank managed to raise $300 million after issuing a 182-day paper.
Yesterday’s TBs come with an open tender on yield basis interest rate and other special features such as prescribed asset status, liquid asset status, tax exemption as well as acceptability as overnight accommodation by the central bank.
Applications are restricted to two per investor at a minimum subscription of $1 million.
Since resuming public auctions of Treasury Bills in August this year, the Reserve Bank has mobilised more than $500 million in support of various Government programmes.
Online Reporter