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Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.
According to the auction results by the Bank of Ghana, the Treasury got GH¢5.471 billion of the total bids tendered but rejected GH¢1.095 billion of the bids from the investors.
Once again, a chunk of the bids came from the 91-day bill, where GH¢3.507 billion, representing 64.07% of the total bids, was tendered.
For the 182-day bill, GH¢1.806 billion was received.
However, the uptake was GH¢1.674 billion.
The bids tendered for the 364-day bill were estimated at GH¢157.18 million. Only GH¢ 48.44 million was accepted.
Meanwhile, interest rates fell with respect to the 182-day and 364-day bills as the government intensified its strategy of keeping rates lower.
Source: newsthemegh.com