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's treasury bills auction surpassed its target by a substantial 4.12%, collecting a total of GH¢2.54 billion. Investors submitted bids for GH¢1.91 billion. The majority of the demand was for the 91-day bill, with approximately GH¢1.5 billion of the total bids. The shorter-term bills saw a decline in interest rates, with the 91-day bill dropping 7.0 basis points to 4.54%, and the 182-day bill falling 6.0 basis points to 6.26%.
Meanwhile, the longer-term 364-day bill experienced a more significant rate increase, with its yield dropping by 15.0 basis points to 9.60%.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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