The government recorded 110% oversubscription of treasury bills, the first time in seven weeks.
This is a result of the Treasury’s reduced target and not necessarily increased bids.
The government got GH¢6.03 billion, as against a target of GH¢2.86 billion. It, however, accepted GH¢5.78 billion of the total bids.
A little over 42% of the bids came from the 91-day bill. About GH¢2.57 billion of the bids were tendered. The uptake was GH¢2.56 billion.
For the 182-day bill, GH¢1.64 billion of the bids were tendered. The bids accepted were estimated to the tune of GH¢1.62 billion.
Also, GH¢1.81 billion of the bids were tendered for the 364-day bill. A little over GH¢1.58 billion of the bids were accepted.
Meanwhile, interest rates were mixed on the yield curve, despite a 350 basis points drop in the Bank of Ghana’s policy rate.
The yield on the 91-day bill increased marginally to 11.05%.
That of the 182-day bill, however, went down to 12.43%, from 12.66% the previous week.
The yield on the 364-day bill remained unchanged at 13.08%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 2.574bn | 2.569bn |
| 182 Day Bill | 1.648bn | 1.629bn |
| 364 Day Bill | 1.811bn | 1.583bn |
| Total | ||
| Target | 2.862bn |
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