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Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.
According to the Bank of Ghana’s auction results, the government failed to meet its target yet again.
The government received GH¢3.94 billion of the total bids, but accepted GH¢3.83 billion of the bids. A little over 77% of the bids came from the 91-day bill.
About GH¢3 billion of the bids were tendered.
The uptake was GH¢2.9 billion. For the 182-day bill, GH¢613.2 million of the bids were tendered.
The bids accepted were estimated to the tune of GH¢608.2 million.
Also, GH¢257.1 million of the bids were tendered for the 364-day bill. About GH¢254 million of the bids were accepted.
Meanwhile, interest rates continued to rise on the yield curve.
Source: newsthemegh.com