Despite falling yields, demand for Treasury bills kept rising.

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

The demand for treasury bills continued to surge despite declining yields.

According to auction results by the Bank of Ghana, the government recorded a 43.85% percent oversubscription of T-bills.

The government got GH¢10.559 billion from the sale of the short-term instruments. It however accepted GH¢7.650 billion.

A little above GH¢6.1 billion cedis came from the 91-day T-bills.

This represented about 58% of the total bids.

The Treasury accepted GH¢3.87 billion. For the 182-day bill, GH¢4.419 billion were tendered. About GH¢3.7 billion were accepted.

There were no bids for the 364-day bill. Meanwhile, interest rates declined for the second-week running.

Source: newsthemegh.com