The government exceeded its treasury bills target by 30.52% to the tune of GH¢2.93 billion.

This is despite demand softening further last week.

The Treasury accepted GH¢1.77 billion of the total bids as against a target of GH¢2.24 billion.

The 91-day bill led the pack with GH¢2.2 billion of the bids tendered, representing 98% of the total bids.

The uptake was, however, GH¢1.39 billion.

The 182-day bill received bids of about GH¢235.19 million. A little above GH¢153 million was accepted.

For the 364-day bill, about GH¢474.85 million of the bids were tendered. A little above GH¢224 million of the bids were accepted.

Meanwhile, interest rates continued to decrease on the yield curve.

The yield on the 91-day bill declined by 4.0 basis points to 4.64%.

That of the 182-day bill also went down to 6.31% from the preceding 6.67%.

Similarly, the yield on the 364-day bill dropped by 3.0 basis points to 9.80%.

Looking ahead, Databank Research expects demand to remain relatively soft at the next auction as the Treasury’s modest funding requirement should keep the auction comfortably covered and yields broadly stable.

SECURITIES	BIDS TENDERED (GH¢)	BIDS ACCEPTED (GH¢)
91 Day Bill	2.215bn	1.394bn
182 Day Bill	235.19m	1.53.59m
364 Day Bill	474.85m	224.35m
Total	2.925bn	1.772bn
Target	2.241bn