The government has surpassed its Treasury bill target by GHS 550 million, as indicated by the most recent auction results from the Bank of Ghana.
The initial target was established at GHS 6.14 billion, while the total bids amounted to GHS 7.26 billion. Despite this oversubscription, the government declined GHS 570.64 million in bids.
According to the data, for the 91-day bill, bids totaling GHS 5.32 billion were submitted, with GHS 5.21 billion being accepted.
The 182-day bill received GHS 1.56 billion in bids, of which GHS 1.29 billion was accepted. For the 364-day bill, GHS 381 million was tendered, and GHS 192 million was accepted.
Interest rates along the yield curve have remained fairly consistent, averaging between 15% and 18%.
- The yield on the 91-day bill decreased to 15.32% from 15.45% the prior week.
- The 182-day bill saw a reduction to 16.03% from 16.18%.
- The yield on the 364-day bill fell to 18.37% from 18.62%.
This ongoing decrease in rates indicates the government’s initiatives to reduce borrowing expenses. In the upcoming auction, the Treasury intends to raise GHS 6.32 billion.
