The government exceeded its treasury bills target by 11.9%, ending two consecutive weeks of undersubscription.
Data from the Bank of Ghana showed that investors submitted bids worth nearly GH¢6.0 billion. The government accepted about GH¢5.8 billion of these bids.
Although demand improved significantly, the government paid slightly more to borrow as yields increased across most maturities.
The 91-day treasury bill attracted the highest investor interest once again. Investors tendered GH¢3.56 billion in bids, accounting for 58.4% of the total amount offered. The government accepted GH¢3.50 billion of these bids.
Investors also showed strong interest in the 182-day bill, submitting bids worth GH¢1.7 billion. Authorities accepted a little over GH¢1.6 billion.
For the 364-day bill, investors tendered GH¢815.57 million, while the government accepted about GH¢640 million.
Meanwhile, yields moved higher along much of the yield curve. The 182-day bill rate rose from 7.04% to 7.09%, while the 364-day bill yield increased by 38 basis points to 10.83%.
The 91-day bill was the only exception. Its yield edged down by 2 basis points to 5.01%.
