For the fourth week, the government recorded an oversubscription of its treasury bills sale.
The target for the auction was estimated at GH¢3.7 billion, but the government received GH¢5.6 billion, about 47.7% oversubscription.
It however accepted GH¢5.3 billion of the total bids.
A little over 45% of the bids came from the 91-day bill. About GH¢2.5 billion of the bids were tendered. The uptake was GH¢2.3 billion.
For the 182-day bill, GH¢1.52 billion of the bids were tendered. The bids accepted were estimated to the tune of GH¢1.45 billion.
Also, GH¢1.538 billion of the bids were tendered for the 364-day bill. GH¢1.533 billion of the bids were accepted.
Meanwhile, interest rates declined across the yield curve.
The yield on the 91-day bill decreased by 3.0 basis points to 11.08%.
That of the 182-day bill, also dropped to 12.43%, from 12.54% the previous week.
The yield on the 364-day bill went down by 17 basis points to 12.91%.
About the Author
