T-bills: Government records 43% oversubscription; interest rates decline

The demand for treasury bills continued to surge despite declining yields.

According to auction results by the Bank of Ghana, the government recorded a 43.85% percent oversubscription of T-bills.

The government got GH¢10.559 billion from the sale of the short-term instruments.

It however accepted GH¢7.650 billion.

A little above GH¢6.1 billion cedis came from the 91-day T-bills. This represented about 58% of the total bids.

The Treasury accepted GH¢3.87 billion.

For the 182-day bill, GH¢4.419 billion were tendered. About GH¢3.7 billion were accepted.

There were no bids for the 364-day bill.

Meanwhile, interest rates declined for the second-week running.

The yield on the 91-day bill went down by 43 basis points to 27.98%.

That of the 182-day also dropped to 28.68% from the previous 28.89%.

SECURITIES	BIDS TENDERED (GH¢)	BIDS ACCEPTED (GH¢)
91 Day Bill	6.139bn	3.877bn
182 Day Bill	4.419bn	3.77bn


Total	10.599bn	7.650bn
Target	7.258bn

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