T-bills auction: Government records 12.79% oversubscription; interest rates stay unchanged

The government recorded about 12.79% oversubscription of treasury bill sales at a reduced target.

According to the latest T-bills auction by the Bank of Ghana. the government got GH¢2.99 billion against a target of GH¢ 2.65 billion.

About GH¢2.358 billion, representing 88.7% were bids tendered for the 91-day bill. All the bids were accepted.

For the 182-day bill, the government got GH¢573.45 million from the investors. The uptake was the same.

Only GH¢64.31 million were tendered for the 364-day bill. All the bids were accepted.

Meanwhile, interest rates remain stable across the yield curve.

The yield on the 91-day bill was 24.86% while that of the 182-day bill stayed the same at 26.80%.

The rate on the 364-day bill was also steady at 27.78%.

SECURITIES	BIDS TENDERED (GH¢)	BIDS ACCEPTED (GH¢)
91 Day Bill	2.358 billion	2.358 billion
182 Day Bill	573.45 million	573.45 million
364 Day Bill	64.31 million	64.31 million

Total	2.656 billion
Target	2.995 billion

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