The government returned to oversubscription of its treasury bills as it exceeded its target marginally.
According to auction results by the Bank of Ghana, the government recorded 7.5% oversubscription.
This, however, came at a lower target rate.
According to the auction results, the government received GH¢2.9 billion but accepted about GH¢2.8 billion of the bids tendered. The target for the auction was estimated at GH¢2.75 billion.
The 91-day bill was the most subscribed as GH¢2.07 billion were tendered. This represented 75% of the total bids.
However, the bids accepted were GH¢1.8 billion.
The 364-day bill saw bids of about GH¢876 million tendered. The uptake was GH¢497 million.
For the 182-day bill, GH¢702.95 million of the bids were tendered. The bids accepted were estimated at GH¢ 520 million.
Meanwhile, interest rates were mixed on the yield curve.
The yield on the 91-day-bill remained unchanged at 4.69%.
However, that of the 182-day bill declined by 11 basis points to 6.37%.
Also, the yield on the 364-day bill went down to 9.83% from 9.98%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 2.075bn | 1.879bn |
| 182 Day Bill | 702.95m | 520.57m |
| 364 Day Bill | 876.72m | 497.74m |
| Total | ||
| Target | 2.75bn |
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