T-bills auction: Government exceeds target marginally; yield on 91-day bill remains unchanged
According to the auction results, the government received GH¢2.9 billion but accepted about GH¢2.8 billion of the bids tendered. The target for the auction was estimated at GH¢2.75 billion.
Government exceeded its target marginally in the latest T-bills auction, auction results from the Bank of Ghana reveal. The government recorded a 7.5% oversubscription, accepting about GH¢2.8 billion of the GH¢2.9 billion bids.
The 91-day bill attracted the most interest, with GH¢2.07 billion tendered, representing 75% of the total bids. However, only GH¢1.8 billion was accepted. The 364-day bill saw about GH¢876 million in bids, with GH¢497 million accepted, while the 182-day bill recorded GH¢702.95 million in bids, of which GH¢520 million were accepted.
Despite the oversubscription, interest rates on the auction varied. The yield on the 91-day bill remained unchanged at 4.69%, while the 182-day bill's yield declined by 11 basis points to 6.37%. The 364-day bill's yield also decreased to 9.83% from 9.98%.
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