Government records GH¢6.67bn T-Bill auction

According to the recent auction results by the Bank of Ghana, the government has recorded an oversubscription in its latest treasury bills auction.

The Treasury recorded a marginal 2.81% oversubscription of the Treasury bills sale.

It raised GH¢6.67 billion, slightly exceeding its target of GH¢66.21 million while rejecting GH¢121.7 million.

GH¢5.7 billion were tendered for the 91-day bill, representing 84.4% of the total bids. The accepted bids were estimated at GH¢5.67 billion.

GH¢908 million was tendered for the 182-day bill. All tendered bills were accepted.  

For the 364-day bill, GH¢187 million was recorded. All tendered bids were accepted.

Interest rates however, fell by a margin on the yield curve.  

The yield on the 91-day bill dropped to 15.45% by 19 basis points. The 182-day bill also dropped 16.21% from 16.50%, while the 364-day bill diminished by 18 basis points to 18.65%.