T-bills: Government exceeds target by 139%, interest rates tumble
The government received bids worth GH¢12.3 billion, but accepted GH¢6.5 billion.
Investor interest in treasury bills soared as the government surpassed its target by a remarkable 139%. The Bank of Ghana's auction results revealed that most investors opted for the 364-day bill due to its attractive yield. The government accepted bids worth GH¢6.5 billion out of the GH¢12.3 billion received. The 364-day bill topped the charts, with 60.7% of the total bids being tendered, totaling GH¢7.4 billion.
Meanwhile, the 182-day bill received GH¢1.2 billion in bids, of which GH¢935 million were accepted. The 91-day bill also saw significant interest, with 3.5 billion in bids, and GH¢2.8 billion accepted. As a result of the increased demand for treasury bills, interest rates on the yield curve experienced a downward trend. The yield on the 91-day bill rose by 13 basis points to 4.94%, while the 182-day bill decreased to 6.87% from the previous week's 7.08%. The 364-day bill saw a 82 basis point drop to 10.77%.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
