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Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.
The Government of Ghana recorded an oversubscription of its treasury bills auction for the first time in a month.
According to auction results by the Bank of Ghana, the Treasury recorded a marginal 2.81% oversubscription of the T-bills sale.
It got GH¢6.67 billion from the T-bills sale but rejected GH¢121.7 million of the bids tendered.
About GH¢5.7 billion was tendered for the 91-day bill, representing 84.4% of the total bids.
The bids accepted were estimated at GH¢5.67 billion. For the 182-day bill, GH¢908 million was tendered.
All of the bids were accepted. A little over GH¢187 million were also tendered for the 364-day bill. All of the bids were accepted.
Meanwhile, interest rates continued to fall but marginally on the yield curve.
Source: newsthemegh.com