The Government of Ghana has exceeded its Treasury bills target by 30.52%, raising approximately GH¢2.93 billion despite a further decline in investor demand during the latest auction.
The Treasury received total bids of about GH¢2.93 billion and accepted GH¢1.77 billion, compared with the government’s target of GH¢2.24 billion.
The 91-day Treasury bill attracted the strongest investor interest, receiving approximately GH¢2.20 billion in bids, accounting for about 98% of the total bids submitted. However, the government accepted approximately GH¢1.39 billion of the bids.
For the 182-day Treasury bill, investors submitted bids worth around GH¢235.19 million, with slightly more than GH¢153 million accepted by the government.
Meanwhile, the 364-day Treasury bill attracted approximately GH¢474.85 million in bids, of which just over GH¢224 million was accepted.
Ghana Treasury Bill Interest Rates Continue to Decline
Interest rates across the Ghana Treasury bill yield curve continued their downward trend during the auction period.
The yield on the 91-day Treasury bill declined by 4.0 basis points to 4.64%. Similarly, the yield on the 182-day bill fell to 6.31%, down from the previous 6.67%.
The 364-day Treasury bill also recorded a decline in its yield, falling by 3.0 basis points to 9.80%.
The latest auction highlights continued changes in Ghana’s fixed-income market, with Treasury bill yields declining even as the government continues to rely on short-term domestic borrowing to meet its financing requirements.
Source: newsthemegh.com