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Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.
The Government of Ghana’s treasury bill auction returned to its undersubscription trajectory a week after it recorded a marginal oversubscription.
According to the Bank of Ghana auction results, the Treasury failed to meet its target by GH¢1.486 billion.
The government got GH¢4.394 billion from the sale of the short-term instruments, as against a target of GH¢5.881 billion, a 25.7% undersubscription. All the bids were accordingly accepted.
The 91-day bill received the bulk of the bids of GH¢3.788 billion, about 85.97% of the total bids. About GH¢441.43 million of the bids came from the 182-day bill, while GH¢175.04 million were made up of the 364-day bills.
Meanwhile, interest rates rose across the yield curve.
Source: newsthemegh.com