The Government of Ghana has rejected GH¢873.94 million in Treasury bill bids despite investors submitting GH¢4.27 billion in offers against a target of GH¢3.80 billion.
The latest Treasury bill auction results show that the government accepted GH¢3.39 billion of the total bids tendered, representing approximately 79.5% of investor offers. The accepted amount fell short of the government’s target by GH¢407.34 million.
91-Day Treasury Bill Attracts Strongest Demand
The 91-day Treasury bill attracted the highest investor demand, recording GH¢2.86 billion in bids. The government accepted GH¢2.55 billion at a yield of 4.61%.
For the 182-day Treasury bill, investors submitted GH¢533.28 million in bids, of which GH¢420.66 million was accepted at a yield of 6.29%.
Meanwhile, the 364-day Treasury bill attracted GH¢873.69 million in bids. The government accepted GH¢420.24 million, with the yield standing at 9.67%.
Treasury Bill Auction Falls Short of Government Target
Despite receiving bids exceeding its initial target, the government accepted less than the GH¢3.80 billion it intended to raise.
The rejection of GH¢873.94 million in bids indicates that not all investor offers were accepted during the auction. The outcome also highlights differences in yields across the three Treasury bill maturities, with the one-year bill recording the highest yield at 9.67%.
Treasury bills remain an important short-term investment option in Ghana, allowing investors to lend money to the government in exchange for returns at maturity.
The auction results will be of interest to investors monitoring Ghana Treasury bill rates, government borrowing, short-term investment opportunities and developments in the domestic money market.
Source: newsthemegh.com