Treasury Bills Oversubscribed for 5th Week—GH¢3.95bn Raised as Yields Edge Up!
For the fifth week in a row, the government reported that treasury bills were 19.0% oversubscribed. The auction’s goal was GH¢3.3 billion, but the government got GH¢3.95 billion, which is about 19.69% more than they needed. It did, however, accept bids totaling GH¢3.89 billion. The Bank of Ghana says that a little over 61% of the bids came from the 91-day bill. There were bids worth GH¢2.449 billion. The uptake was 2.447 billion GH. There were bids for the 182-day bill worth GH¢781.43 million. The bids that were accepted were worth an estimated GH726.43 million. Also, the bids for the 364-day bill were worth GH¢726.43 million. They accepted the same number of bids. Interest rates, on the other hand, went up all along the yield curve. The yield on the 91-day bill rose by one basis point to 11.09%. The 182-day bill also went up, from 12.43% the week before to 12.52%. The yield on the 364-day bill went up by 3.0 basis points to 12.94%.
