Govt sees 29.71% oversubscription in treasury bills interest rates edge down slightly

The government achieved a 29.71% oversubscription in its treasury bills auction just a week after failing to meet its target.

According to the Bank of Ghana‘s auction results, the government raised GH¢3.52 billion from selling short-term instruments.

Approximately GH¢2.715 billion, or 77.02%, came from the 91-day T-bill, though the actual uptake was GH¢2.710 billion.

For the 182-day bill, GH¢608.41 million were tendered, and all bids were accepted.

Similarly, GH¢201.49 million were received for the 364-day bill, with all bids accepted. Meanwhile, interest rates continued their downward trend.

The yield on the 91-day bill slightly decreased by 6.0 basis points to 25.03%.

The 182-day bill’s yield also dropped to 26.91%, from 26.94% the previous week.

For the 364-day T-bill, the interest rate fell to 27.90% from the previous week’s 27.94%.