T-bills auction: Interest rates fall for 8th week running; government raises GH¢6.26bn
Interest rates eased for the 8th week running on the treasury market but marginally.
Indeed, the yields on the treasury bills continued to ease in line with most analysts’ forecasts.
According to the auction results by the Bank of Ghana, the rate on the 91-day bill went down by 70 basis points to 27.82%.
That of the 182-day bill however remained unchanged at 29.74%.
The 364-day bill dropped to 30.29% from the previous 30.89%.
Meanwhile, the government recorded 11.20% oversubscription over the ambitious target of GH¢6.26 billion
It accepted all the bids submitted worth GH¢6.97 billion.
About GH¢3.41 billion, representing 48.94% came from the 91-day bill. All the bids were accepted.
The 182-day bill also received bids worth GH¢1.813 billion with the uptake being the same.
About GH¢1.74 billion were tendered for the one-year bill. All the bids were accepted.
| SECURITY | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 3.411 billion | 3.411 billion |
| 182 Day Bill | 1.813 billion | 1.813 billion |
| 364 Day Bill | 1.745 billion | 1.745 billion |
| Total | 6.970 billion | 6.970 billion |
| Target | 6.268 billion | |