The government exceeded its treasury bill target by 88 percent, as investor interest rose.
According to auction results by the Bank of Ghana, the government got a significant GH¢11.2 billion from the investors.
The government, however, accepted about GH¢4.88 billion of the bids.
The 91-day bill overtook the 364-day bill as the most patronised short-term instrument.
About GH¢5billion of the bids were tendered, representing 44.9% of the total bids. A little above GH¢4.0 billion of the bids were accepted.
The 364-day bill received bids worth GH¢4.9 billion. The uptake was, however, GH¢289.70 million.
The 182-day bill received bids of GH¢1.28 billion. A little above GH¢ 526 million was accepted.
Meanwhile, interest rates tumbled across the yield curve.
The yield on the 91-day bill went down by 16 basis points to 5.46%.
That of the 182-day bill also dropped to 7.27% from the previous week’s 7.57%.
Similarly, the yield on the 364-day fell by 48 basis points to 12.50%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 5.066bn | 4.065bn |
| 182 Day Bill | 1.281bn | 526.44m |
| 364 Day Bill | 4.931bn | 289.70m |
| Total | ||
| Target | 5.993bn |
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