The government successfully raised GH¢6.67 billion in its most recent treasury bills auction, slightly surpassing its target, as reported by the Bank of Ghana.
The auction experienced a modest over-subscription rate of 2.81%, with the government exceeding its goal by GH¢66.21 million. However, bids totaling GH¢121.7 million were rejected.
The 91-day bill was the most sought after, attracting GH¢5.7 billion in bids, which accounted for 84.4% of the total submissions. Out of this, GH¢5.67 billion was accepted. The 182-day bill garnered GH¢908 million in bids, all of which were accepted, while the 364-day bill received just over GH¢187 million, which was also fully accepted.
Yields across all tenors continued to decline, albeit slightly. The yield on the 91-day bill fell by 20 basis points to 15.45%, the 182-day bill decreased to 16.21% from 16.50%, and the 364-day bill dropped by 18 basis points to 18.65%.
