For the first time in 10 weeks, the government recorded an oversubscription of its treasury bills sale.
However, it paid a higher price for the 91-day bill which it received bids worth GH¢4.689 billion before achieving its target.
According to auction results from the Bank of Ghana, the government got GH¢5.529 billion from all the bids tendered, about 2.40% more than the target.ed amount
All the bids were accordingly accepted.
The 91-day bill received the bulk of the bids of GH¢4.689 billion, about 84% of the total bids.
About GH¢594 million of the bids came from the 182-day bill, whilst GH¢245.74 million were made up of the 364-day bills.
Meanwhile, interest rates were mixed across the yield curve.
Whilst the yield on the 91-day bill went up marginally that of the 182-day and 364-day bills declined slightly.
The yield on the 91-day bill was 24.91%, higher than the 24.90% recorded a week ago.
The rate on the 182-day bill went down by 2.0 basis points to 26.78%, whereas that of the 364-day bill also declined to 27.81%, from the previous week’s 27.91%.
Inflation eased marginally last week. This could push interest rates down but albeit slowly.
| 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 |
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