By Von Cofie
The government raised GH¢6.67 billion in its latest treasury bills auction, exceeding its target slightly, according to data released by the Bank of Ghana.
The auction recorded a modest oversubscription rate of 2.81%, with the government surpassing its target by GH¢66.21 million. However, GH¢121.7 million worth of bids were rejected.
The 91-day bill was the most in-demand, drawing GH¢5.7 billion in bids—representing 84.4% of total submissions. Of that amount, GH¢5.67 billion was accepted.
The 182-day bill received GH¢908 million in bids, all of which were taken up, while the 364-day bill attracted just over GH¢187 million, also fully accepted.
Yields on all tenors continued to trend downward, albeit slightly. The 91-day bill dropped by 20 basis points to 15.45%, the 182-day bill eased to 16.21% from 16.50%, and the 364-day bill declined by 18 basis points to 18.65%.
