Investor interest in government treasuries continued to remain high as treasury bills auction exceeded its target by 61%. T
According to auction results by the Bank of Ghana, the total bids accepted were estimated at GH¢12.8 billion, higher than the targeted amount of GH¢9.8 billion. The total bids tendered were, however, GH¢15.9 billion.
The majority of the bids came from the 364-day bill, with an estimated GH¢7.4 billion tendered. This represented 46.8% of the total bids.
The uptake was a little over GH¢5.0 billion.
For the 182-day bill, GH¢4.29 billion of the bids were tendered. The bids accepted were estimated to the tune of GH¢4.28 billion.
Similarly, GH¢4.1 billion of the bids were tendered for the 91-day bill. A little over GH¢3.4 billion of the bids were accepted.
Meanwhile, interest rates continued to rise at the longer end of the yield curve.
The yield on the 91-day bill remained at 11.19%.
That of the 182-day bill, however, went up to 12.66%, from 12.64% the previous week.
Additionally, the yield on the 364-day bill increased by 8 basis points to 13.06%.
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