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Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.
The Government of Ghana recorded a 19% oversubscription of treasury bills for the fifth consecutive week, though at a reduced target.
The government received about GH¢4.7 billion of the bids, but accepted a little over GH¢4.7 2 billion of the short-term instruments.
The target for the auction was estimated at GH¢3.9 billion.
A little over 40% of the bids came from the 91-day bill. About GH¢1.948 billion of the bids were tendered. The uptake was GH¢1.943 billion.
For the 182-day bill, GH¢1.2 billion of the bids were tendered.
The bids accepted were estimated to the tune of GH¢1.0 billion. Similarly, GH¢1.60 billion of the bids were tendered for the 364-day bill. GH¢1.26 billion of the bids were accepted.
Meanwhile, interest rates surged across the shorter end of the market.
Source: newsthemegh.com