The government borrowed GH¢17.22 billion from the treasury market in June 2024, 9.55% higher than that of May 2024.
About GH¢14.75 billion was used to repay maturing treasury bills.
This means 14.34% were fresh funds to be used by the government for other financing.
Meanwhile, yields continued to drift down slowly, with the 91-day and 182-day bills declining by 23 basis points and 15 basis points to 24.87% and 27.79% respectively.
The 364-day yield also lost 16 basis points to close at 27.79%.
Analysts believe the strong refinancing pressures coupled with a higher yield on Bank of Ghana’s Open Market Operations (OMO) bills may likely impede yield decline in July 2024.
Government accepts all GH¢3.00bn T-bills auction
Last week, investors overfunded the treasury’s target in the money market auction, pushing through total bids worth GH¢3.00 billion.
The government accepted all bids to cover estimated maturities valued at GH¢2.12 billion.
Yields were broadly unchanged, with 91-day and 182-day at 24.87% and 26.80%, respectively, while the 364-day closed at 27.79%
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