The Ghanaian government reported a 110% oversubscription of Treasury bills.

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

The Government of Ghana recorded 110% oversubscription of treasury bills, the first time in seven weeks. 

The government got GH¢6.03 billion, as against a target of GH¢2.86 billion.

It, however, accepted GH¢5.78 billion of the total bids. A little over 42% of the bids came from the 91-day bill. 

About GH¢2.57 billion of the bids were tendered. The uptake was GH¢2.56 billion.

For the 182-day bill, GH¢1.64 billion of the bids were tendered. The bids accepted were estimated to the tune of GH¢1.62 billion.

Also, GH¢1.81 billion of the bids were tendered for the 364-day bill. A little over GH¢1.58 billion of the bids were accepted.

Meanwhile, interest rates were mixed on the yield curve, despite a 350 basis points drop in the Bank of Ghana’s policy rate.

Source: newsthemegh.com