T-bills auction: Government records marginal oversubscription for first time in a month

The government recorded an oversubscription of its treasury bills auction for the first time in a month.

According to auction results by the Bank of Ghana, the Treasury recorded a marginal 2.81% oversubscription of the T-bills sale.

It got GH¢6.67 billion from the T-bills sale but rejected GH¢121.7 million of the bids tendered.

About GH¢5.7 billion were tendered for the 91-day bill, representing 84.4% of the total bids. The bids accepted were estimated at GH¢5.67 billion.

For the 182-day bill, GH¢908 million were tendered. All of the bids were accepted.

A little over GH¢187 million were also tendered for the 364-day bill.  All of the bids were accepted.

Meanwhile, interest rates continued to fall but marginally on the yield curve.

The yield on the 91-day bill declined marginally by 19 basis points to 15.45%.

That of the 182-day also eased to 16.21% from the previous 16.50%.

The interest on the 364-day bill also dropped by 18 basis points to 18.65%.

he Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, for her part said the government views the pharmaceutical sector not only through the lens of public health, but also as a strategic pillar of the industrial transformation agenda.