T-bills auction: Government records marginal oversubscription; interest rates register mixed performance
The Treasury received GH¢4.17 billion of the total bids but accepted GH¢3.48 billion.
The government's treasury bill auction saw a marginal oversubscription, with demand for the securities slightly reduced. The government exceeded its target by just over one percent, recording an oversubscription of 1.02%. The Treasury managed to accept bids for GH¢3.48 billion out of the total GH¢5.173 billion bids received, based on the Bank of Ghana’s latest auction results.
The bulk of the bids came from the 91-day instrument, with GH¢2.944 billion worth of bids accepted, representing 70.5% of the total bids. The 182-day bill received about GH¢1.109 billion in bids, with GH¢692.30 million accepted. The 364-day bill saw a little over GH¢1.117 billion in bids, of which the Treasury accepted GH¢587.61 million.
Interest rates on the yield curve showed mixed performance. The yield on the 91-day bill rose by 2.0 basis points to 4.62%, while the yield on the 182-day bill increased to 6.31% from 6.27% the previous week. However, the yield on the 364-day bill fell by 4.0 basis points to 9.71%.
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