The government recorded another oversubscription of its treasury bills.
According to auction results by the Bank of Ghana, the government exceeded its target by 51.6%, amounting to GH¢9.93 billion.
It, however, accepted about GH¢8.3 billion of the bids.
For the first time in several months, the 91-day bill led the pack with GH¢6.2 billion of the bids tendered, representing 62.6% of the total bids.
The uptake was, however, GH¢5.8 billion.
The 182-day bill received bids of about GH¢1.9 billion. A little above GH¢1.5 billion was accepted.
For the 364-day bill, about GH¢1.7 billion of the bids were tendered. A little above GH¢952 million of the bids were accepted.
Meanwhile, interest rates continued to decrease on the yield curve.
The yield on the 91-day bill declined by 14 basis points to 4.80%.
That of the 182-day bill also went down to 6.67% from the previous week’s 6.87%.
Similarly, the yield on the 364-day dropped by 66 basis points to 10.11%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 6.225bn | 5.835bn |
| 182 Day Bill | 1.915bn | 1.593bn |
| 364 Day Bill | 1.796bn | 952.77m |
| Total | 9.937bn | 8.381bn |
| Target | 6.554bn |
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Source link
