By The government experienced a slight oversubscription in its treasury bills auction.
However, this was accompanied by an increase in interest rates.
According to the auction results from the Bank of Ghana, the government raised GH¢4.195 billion from the sale of these short-term instruments, surpassing its target of GH¢4.035 billion.
All bids submitted were accepted.
Approximately 83% of the bids, totaling around GH¢3.52 billion, were for the 91-day bill.
GH¢545.83 million were submitted for the 182-day bill, while GH¢128.52 million were offered for the 364-day bill.
Meanwhile, interest rates surged on the yield curve for the second consecutive week.
The yield on the 91-day bill rose by 33 basis points to 25.94%.
The rate for the 182-day bill also increased to 27.03%, up from 26.90% the previous week.
The yield on the 364-day bill climbed by 15 basis points to 28.73%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 3.520 billion | 3.520 billion |
| 182 Day Bill | 545.83 million | 545.83 million |
| 364 Day Bill | 128.52 million | 128.52 million |
| Total | 4195.32 billion | |
| Target | 4.035 billion | |
