T-bills auction: Government records 12.79% oversubscription; interest rates stay unchanged
Source
The Ghana Report
The government recorded about 12.79% oversubscription of treasury bill sales at a reduced target.
According to the latest T-bills auction by the Bank of Ghana. the government got GH¢2.99 billion against a target of GH¢ 2.65 billion.
About GH¢2.358 billion, representing 88.7% were bids tendered for the 91-day bill. All the bids were accepted.
For the 182-day bill, the government got GH¢573.45 million from the investors. The uptake was the same.
Only GH¢64.31 million were tendered for the 364-day bill. All the bids were accepted.
Meanwhile, interest rates remain stable across the yield curve.
The yield on the 91-day bill was 24.86% while that of the 182-day bill stayed the same at 26.80%.
The rate on the 364-day bill was also steady at 27.78%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 2.358 billion | 2.358 billion |
| 182 Day Bill | 573.45 million | 573.45 million |
| 364 Day Bill | 64.31 million | 64.31 million |
| Total | 2.656 billion | |
| Target | 2.995 billion | |