The government has recorded a 19.0% oversubscription of treasury bills for the fifth consecutive week, reflecting sustained investor appetite for short-term government securities.
The target for the latest auction was GH¢3.3 billion, but total bids amounted to GH¢3.95 billion, representing an oversubscription of about 19.69%. Of the total bids received, the government accepted GH¢3.89 billion.
According to auction results released by the Bank of Ghana, the 91-day bill attracted the highest interest, accounting for over 61% of total bids. Investors tendered GH¢2.449 billion for the 91-day bill, with GH¢2.447 billion accepted.
For the 182-day bill, bids worth GH¢781.43 million were tendered, while GH¢726.43 million was accepted.
Meanwhile, the 364-day bill attracted bids amounting to GH¢726.43 million, all of which were accepted.
Interest rates increased across the yield curve during the auction. The yield on the 91-day bill edged up by one basis point to 11.09%.
Similarly, the 182-day bill saw its yield rise to 12.52%, up from 12.43% in the previous week.
Source: joynews
