T-bills auction: Government exceeds target by 4.12%, interest rates take a nosedive
A little over GH¢1.5 billion of the bids were tendered for the 91-day bill, representing 59% of the total bids. The uptake was, however, about GH¢1.2 billion.
The government exceeded its treasury bills target by 4.12% in a recent auction, reaching a total of GH¢2.54 billion. Investors submitted bids amounting to GH¢1.91 billion, with 59% of the total bids directed towards the 91-day bill. The 91-day bill received bids of approximately GH¢1.510 billion, of which GH¢1.229 billion were accepted.
The 182-day bill attracted bids of about GH¢423.47 million, with GH¢395.74 million accepted. The 364-day bill saw bids of around GH¢613 million, with a similar acceptance rate of close to all bids. In summary, the short-term interest rates experienced a decline, while those on the longer end of the yield curve increased.
Written by urgent.news from Joy Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
