Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.
The Government of Ghana recorded 33% oversubscription of treasury bills, for the third week running.
This oversubscription is positive because the target was high, compared to a very reduced target in the previous week.
The government got GH¢9.2 billion, as against a target of GH¢6.9 billion. It, however, accepted GH¢8.5 billion of the total bids.
A little over 70% of the bids came from the 91-day bill. About GH¢6.56 billion of the bids were tendered.
The uptake was estimated at GH¢6.50 billion. For the 182-day bill, GH¢1.32 billion of the bids were tendered.
The bids accepted were estimated to the tune of GH¢1.27 billion. Also, GH¢1.40 billion of the bids were tendered for the 364-day bill.
A little over GH¢730 million of the bids were accepted. Meanwhile, interest rates rose on the 91-day and 364-day bill.
Source: newsthemegh.com