Interest rates fell marginally on the treasury market, as the government recorded a marginal oversubscription of Treasury bills auction.
According to the auction results, the government got ¢4.212 billion, about 3.38% more than the targeted amount.
The rate on the 91-day bill went down by 11 basis points to 29.24%.
Similarly, the 182-day bill eased to 31.88% from the previous 31.94%.
The yield on the one-year bill also fell to 32.48% from the preceding week’s 32.49%.
Analysts were expecting a rise in T-bill yields because of the government’s need for funds to support the budget.
Meanwhile, the government accepted ¢4.210 billion of the bids tendered for the auction.
About ¢2.147 billion came from the 91-day bill, representing about 50.9% of the total bids.
It was followed by the one-year bill in which about ¢1.646 billion were tendered and all were accepted. It constituted 39.07% of the total bids.
The 182-da, however, received bids worth ¢417.80 million. About ¢416.33 million were accepted.
Overall, the uptake will partly be used to refinance estimated maturities of ¢2.55 billion.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91-Day Bill | 2.147 billion | 2.147 billion |
| 182-Day Bill | 417.80 million | 416.33 million |
| 364-Day Bill | 1.646 billion | 1.646 billion |
| TOTAL | 4.212 billion | 4.210 billion |
| TARGET | 4.075 billion |
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