The government recorded a 29.71% oversubscription of the treasury bills auction a week after it failed to meet its target.
According to the auction results by the Bank of Ghana, the government got GH¢3.52 billion from the sale of the short-term instruments.
About GH¢2.715 billion, representing 77.02% came from the 91-day T-bill. The uptake was however GH¢2.710 billion.
For the 182-day bill, GH¢608.41 million were tendered. All the bids were accepted.
Similarly, GH¢201.49 million were received for the 364-day bill. Again, all the bids were accepted. Meanwhile, interest rates returned to their downward trajectory.
The yield on the 91-day bill declined marginally by 6.0 basis points to 25.03%.
That of the 182-day bill also went down to 26.91%, from 26.94% the previous week.
For the 364-day T-bill, the interest rate eased to 27.90% from the previous week’s 27.94%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91-Day Bill | 2.715 billion | 2.710 billion |
| 182-Day Bill | 608.41 million | 608.41 million |
| 364-Day Bill | 201.49 million | 201.49 million |
| Total | 3.525 billion | 3.520 billion |
| Target | 2.718 billion | |
Source: myjoyonline