Government of Ghana has recorded an oversubscription of its treasury bills sale for the fourth successive week.
Government received GH¢5.6 billion instead of the targeted auction sale that was estimated at GH¢3.7 billion, accounting for about 47.7% oversubscription. However, GH¢5.3 billion of the total bids was accepted.
For the 91-day bill, a little over 45% of the bids were received. About GH¢2.5 billion of the bids were tendered. The uptake was GH¢2.3 billion.
Also, GH¢1.52 billion of the bids were tendered for the 182-day bill, with the accepted estimated to the tune of GH¢1.45 billion.
GH¢1.538 billion of the bids were also tendered for the 364-day bill. GH¢1.533 billion of the bids were accepted.
Meanwhile, interest rates declined across the yield curve.
The yield on the 91-day bill decreased by 3.0 basis points to 11.08%. That of the 182-day bill, also dropped to 12.43%, from 12.54% the previous week, while the yield on the 364-day bill went down by 17 basis points to 12.91%.
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