The government achieved a 24% oversubscription of treasury bills sale in the first auction for 2025.
However, it came at the expense of rising interest rates, increasing the cost of repaying the short-term instruments.
The government got GH¢5.392 billion but accepted GH¢5.371 billion for the short-term instruments.
For the 91-day bill, the government received GH¢3.539 billion but accepted GH¢3.531 billion.
About GH¢617 million were tendered for the 182-day bill. However, GH¢604.39 million were accepted.
For the 364-day bill, all the GH¢1.235 billion tendered were accepted.
Meanwhile, interest rates continued to rise on the yield curve.
The yield on the 91-day bill increased by 16 basis points to 28.19%.
That of the 182-day bill also shot up to 28.91%, from 28.68% the prior week.
The same could be said about the one-year bill as the rate went up to 30.15% from 30.07% the previous week.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 3.539bn | 3.531bn |
| 182 Day Bill | 617.40m | 604.39m |
| 364 Day Bill | 1.235bn | 1.235bn |
| Total | 5.392bn | 5.371bn |
| Target | 4.262bn |
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