T-bills auction: Government records marginal oversubscription; interest rates dip slightly

The government recorded a marginal oversubscription of treasury bill sales as interest rates eased.

According to the auction results from the Bank of Ghana, the government secured GH¢3.34 billion from the auction, higher than the previous week’s result.

The government once again accepted all the bids.

About 77.32% of the bids came from the 91-day bill. GH¢2.510 billion were tendered and all were accepted.

For the 182-day bill, GH¢651.11 million were tendered and the uptake was all. GH¢182.68 million cedis were also offered for the 364-day bill and all were accepted.

Meanwhile, interest rates continued to plummet but marginally.

The 91-day bill fell by 8.0 basis points to 24.78%.

That of the 182-day bill also dropped by 6.0 basis points to 26.74%.

However, the 364-day remained the same at 27.78%.