The government treasury bills were undersubscribed for the first time in about three weeks despite a reduction in interest rates.
According to auction results by the Bank of Ghana, the Treasury received approximately GH¢6.8 billion, compared to a target of GH¢8.58 billion.
The majority of the bids came from the 91-day bill.
A little over GH¢5.02 billion, representing 72.9% of the bids, were tendered for the 3-month bill. The uptake was GH¢4.99 billion.
For the 182-day bill, GH¢1.372 billion of the bids were tendered. The bids accepted were estimated to the tune of GH¢1.237 million.
On the other hand, GH¢490.41 million were tendered for the 364-day bill. About GH¢452 million were accepted.
Meanwhile, the yield on the 91-day bill went down by 9.0 basis points to 10.20%.
That of the 182-day bill also fell to 11.54% from 12.35% the prior week.
Similarly, the yield on the 364-day bill decreased by 14 basis points to 13.10%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 5.027bn | 4.997bn |
| 182 Day Bill | 1.372bn | 1.237bn |
| 364 Day Bill | 490.41m | 452.68m |
| Total | 6.890bn | 6.687bn |
| Target | 8.588bn |
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