Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.
Investor interest in government treasuries continued to remain high as treasury bills auction exceeded its target by 61 percent.
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.
Source: newsthemegh.com