T-bills auction: Gov’t exceeds target marginally; yield on 91-day bill remains unchanged
The government returned to oversubscription of its treasury bills as it exceeded its target marginally. According to auction results by the Bank of Ghana, the government recorded 7.5% oversubscription. This, however, came at a lower target rate. According to the auction results, the government received GH¢2.9 billion but accepted about GH¢2.8 billion of the bids […]
The government's treasury bill auction exceeded its target marginally, with a 7.5% oversubscription recorded by the Bank of Ghana. The government accepted about GH¢2.8 billion of the bids tendered, despite receiving a total of GH¢2.9 billion. The 91-day bill was the most subscribed, with GH¢2.07 billion tendered, representing 75% of the total bids.
However, only GH¢1.8 billion of these bids were accepted. The 364-day bill saw bids of about GH¢876 million, with GH¢497 million accepted. For the 182-day bill, GH¢702.95 million of the bids were tendered, and GH¢520 million was accepted. The yield on the 91-day bill remained unchanged at 4.69%, while the yield on the 182-day bill declined by 11 basis points to 6.37%. The yield on the 364-day bill also decreased to 9.83% from 9.98%.
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