Government records oversubscription of T-bills sale for second week running

Government for the second week running recorded an oversubscription of Treasury bills sale, according to data from the Bank of Ghana.

The government secured a total of ¢2.39 billion, a 9.9% more than the targeted amount of ¢2.176 billion.

This signals improved liquidity compared to recent weeks and some level of increasing investor confidence.

According to the auction results, bids tendered for the 91-day T-bills were estimated at ¢2.066 billion.  All the funds were accepted.

For the 182 T-bills, ¢224.44 million was tendered with ¢223.55 million accepted.

¢101.71 was however secured from the issuance of the 364-day T-bill.

Meanwhile, the yield for the 91-day T-bill was 35.54%, higher than the previous week of 35.19%.

For the 182-day Treasury bill, the interest rate was 36.37%, 0.39% higher than the past week.

The 364-day T-bill however went for 35.89%