T-bills auction: Government fails to achieve target; yield on 91-day-bill remains unchanged
The 91-day bill was the most subscribed, as GH¢2.28 billion of the bids were tendered, representing 57.8% of the total bids.
The government's attempt to meet its treasury bills target through an auction failed on Thursday. The Bank of Ghana revealed that the government only received GH¢3.9 billion from investors, falling short of the estimated GH¢4.1 billion target. The auction saw a total of GH¢3.956 billion in bids, with 57.8% of the bids going towards the 91-day bill.
Despite the high number of bids, the government accepted only GH¢1.8 billion, which was 57.8% of the total bids for this bill. The 364-day bill saw a lesser number of bids with about GH¢1.2 billion tendered, with GH¢110.52 million accepted. The 182-day bill also received lesser bids at GH¢452.79 million, with GH¢110.52 million accepted.
The yield on the 91-day bill remained unchanged at 4.69%, while it decreased by 3.0 basis points to 6.48% for the 182-day bill and to 9.98% from 10.10% for the 364-day bill.
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