Investor interest in government securities remained high, as the government exceeded its treasury bills target by 246%.

This was, however, achieved at a reduced target of GH¢4.9 billion.

According to the auction results by the Bank of Ghana, total bids tendered were estimated at GH¢17.2 billion, but the government accepted GH¢5.8 billion.

The majority of the bids came from the 364-day bill, with an estimated GH¢6.9 billion tendered. This represented 40.2% of the total bids.

The uptake was GH¢2.0 billion. 

For the 91-day bill, GH¢6.5 billion of the bids were tendered. The bids accepted were to the tune of GH¢2.5 billion.

Similarly, GH¢3.7 billion of the bids were tendered for the 182-day bill. A little over GH¢1.3 billion of the bids were accepted.

Meanwhile, interest rates fell sharply across the yield curve.

This shows how interest rates are aligning with the policy rate cut.

The yield on the 91-day bill dropped by 86 basis points to 9.96%.

That of the 182-day bill also declined to 11.81%, from 12.38% the previous.

Again, the yield on the 364-day bill eased by 76 basis points to 12.06%.