Government has recorded a 73% oversubscription of its treasury bill auction, following demand for the short-term instruments surging ahead of the Bank of Ghana (BoG) policy rate announcement.
The 364-day bill was the most popular, attracting GH¢8.31 billion in bids, which accounted for 64.9% of the total bids.
However, the government accepted GH¢6.35 billion of the bids for this bill. In total, the government accepted approximately GH¢9.978 billion in bids across all instruments, amid an oversubscription.
The 182-day bill received bids of GH¢873.9 million. A little above GH¢584 million was accepted.
For the 91-day bill, GH¢3.5 billion of the bids were tendered. A little above GH¢3.0 billion of the bids were accepted.
Interest rates, meanwhile, fell at the shorter end of the yield curve.
Also, the yield on the 91-day bill went down by 8.0 basis points to 5.78%.
Similarly, the 182-day bill also dropped to 7.67% from the previous week’s 7.78%.
However, the yield on the 364-day remained unchanged at 12.99%.
BoG misses GH¢7.57billion treasury bill target as auction undersubscribed by 29%
