Government has for the first time in 10 weeks, seen an oversubscription in its treasury bill auction, though it came at a higher cost for the 91-day bill, which attracted bids worth GH¢4.689 billion before reaching its target.
According to data from the Bank of Ghana, the government secured GH¢5.529 billion from all bids submitted, exceeding its target by 2.40%. All the bids were accepted.
The majority of the bids, amounting to GH¢4.689 billion (roughly 84% of the total), were for the 91-day bill. The 182-day bill attracted about GH¢594 million in bids, while the 364-day bill received GH¢245.74 million.
Interest rates showed a mixed performance across the board. The yield on the 91-day bill rose slightly to 24.91%, compared to the previous week’s 24.90%.
In contrast, the 182-day bill rate dipped by 2 basis points to 26.78%, while the 364-day bill saw a slight decrease to 28.07% from the prior week’s 27.91%.
With inflation easing slightly last week, there’s potential for interest rates to decrease, though the adjustment is likely to be gradual.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 4.689 billion | 4.689 billion |
| 182 Day Bill | 594.37 million | 594.37 million |
| 364 Day Bill | 245.74 million | 245.74 million |
| Total | 5.529 billion | 5.529 billion |
| Target | 5.400 billion |