Government experiences 121.4% oversubscription of Treasury Bills valued at GH¢5.606 billion.
The surge in demand for Treasury bills followed the receipt of the second tranche of the International Monetary Fund (IMF) bailout package by the government.
As per the Bank of Ghana’s treasury auction report, interest rates observed a decline for the fourth consecutive week in 2024.
The auction, showcasing strong investor interest, especially from banks, revealed notable figures. Approximately 50.6% of the total bids, amounting to GH¢2.839 billion, were directed towards the 91-day bill, with an uptake of GH¢2.72 billion.
For the 182-day T-bill, GH¢1.532 billion were tendered, of which GH¢1.531 billion were accepted. In the case of the 364-day bill, all bids totaling GH¢1.234 billion were accepted.
Simultaneously, there were declines in yields for the respective bills. The yield on the 91-day bill decreased by 29 basis points to 28.59%, while the 182-day bill witnessed a drop to 31.09% from the previous week’s 31.39%. Similarly, the one-year bill experienced a decrease to 31.79% from the previous 31.99%.
| SECURITIES TENDERED | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 2.839 billion | 2.729 billion |
| 182 Day Bill | 1.532 billion | 1.531 billion |
| 364 Day Bill | 1.234 billion | 1.234 billion |
| Total | 5.606 billion | 5.495 billion |
| Target | 2.532 billion | |