Investors opted for short-term Treasury Bills which saw 91-day paper oversubscribed by 588.9% in the latest auction results.
The Central Bank of Kenya (CBK) results show the 91-day paper attracted Ksh.23.5 billion against Ksh.4 billion auctioned.
The 182 and 364 days Bills were heavily shunned, maintaining a trend that has persisted since January, despite interest rates edging upwards.
Both securities attracted low subscriptions at the auction, performing at 37.9%% and 22.6% respectively.
Against the total Ksh.24 billion offered, the Treasury managed to tap Ksh.29.6 billion worth of Bills, translating to an oversubscription rate of 123.39%.
The Kenya Shilling, However, stabilised against the US Dollar at 149.84 units, representing a 0.04% gain from 149.90 units a day prior.