The government missed its treasury bill target for the second time this year.
According to auction results by the Bank of Ghana, the government recorded a 16% undersubscription of the sale of the short-term instruments.
Indeed, the government T-bill target fell short of the target by GH¢935.2 million. It was seeking GH¢5.644 billion but got GH¢4.08 billion.
Most of the bids came from the 91-day bill as GH¢3.506 billion, representing 74.47% of the total tendered bids.
The uptake was GH¢3.029 billion.
The 364-day bill, however, received bids worth GH¢619.47 million. The bids accepted were GH¢500.5 million.
For the 182-day bill, the bids tendered were estimated at GH¢582.8 million. All the bids tendered were accepted.
Meanwhile, interest rates fell slightly on the yield curve.
The yield on the 91-day bill declined by 14 basis points to 15.71%.
The 182-day bill stood at 16.73% from the previous 16.92%.
The rate on the 364-day bill, however, remained the same at 18.84%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 3.506bn | 3.029bn |
| 182 Day Bill | 582.87m | 582.879m |
| 364 Day Bill | 619.47m | 500.51m |
| Total | 4.708bn | 4.113bn |
| Target | 5.644bn |
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