The government exceeded its treasury bills target marginally compared with the previous weeks’ high oversubscription.
According to the auction results by the Bank of Ghana, the government recorded a 2.8% oversubscription of the short-term securities to the tune of GH¢8.1 billion.
The government, however, accepted GH¢7.2 billion of the bids. The target for the auction was GH¢7.9 billion.
The 91-day bill was the most subscribed as GH¢4.56 billion of the bids were tendered, representing 55% of the total bids.
However, the uptake was GH¢4.52 billion.
For the 182-day bill, GH¢2.07 billion of the bids were tendered. The bids accepted were estimated to the tune of GH¢1.81billion.
Similarly, the 364-day bill saw bids of GH¢1.56 billion tendered. The uptake was GH¢ 867.93 million.
Meanwhile, interest rates continued to dip on the yield curve.
The yield on the 91-day bill went down by 11 basis points to 4.69%.
That of the 182-day also declined to 6.51% from 6.67% the previous week.
Similarly, the yield on the 354-day bill dropped a basis point to 10.10%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 4.561bn | 4.521bn |
| 182 Day Bill | 2.071bn | 1.816bn |
| 364 Day Bill | 1.562bn | 867.93m |
| Total | 8.195bn | |
| Target | 7.970n |
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