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The Government of Ghana’s Treasury Bill (T-bill) offer across 91-day to 364-day bills target of GHS 3.96 billion fell short of about 12.91 percent at last week’s auction.
The offer attracted total bids estimated at GHS3.45 billion, with the treasury securing approximately 87 percent of the bids valued at GHS3.96 billion.
According to the results published by the Bank of Ghana, the aggregate bids from investors amounted to 3,453.63 billion against the government ‘s target of issuance size of 3, 966.00 billion.
This represents a 12.91 percent under subscription.
From the three-month financial instrument, government received and accepted GH¢1,632.49.
Bids tendered and secured from the 182-day bill was GH¢1,694.47 and the 364 Day Bill also tendered in GH¢126.67 and government same.
Despite the under-subscription interest rates continued to surge on higher on the money market.
The yield on the 91-day bill increased by 0.61% to 26.70%.
That of the 182-day bill reached 27.88%, from 27.59% the previous week.
The one-year bill also inched up by 0.39% to 31.08%.
Source: myghanadaily
