Audio By Carbonatix
The government for the second consecutive week failed to meet its treasury bills target.
This is despite an impressive performance of the Ghana cedi, ranking it as the best performing currency in the world.
According to auction results by the Bank of Ghana, the Treasury recorded a marginal undersubscription of the T-bills auction.
It however got GH¢5.216 billion against a target of GH¢5386 billion of the bids tendered. It accepted all the bids tendered.
About GH¢3.858 billion came from the 91-day bill, representing 73.96% of the total bids.
For the 182-day bill, GH¢747.06 million were tendered.
A little over GH¢611 million were also tendered for the 364-day bill.
Meanwhile, interest rates continued to plumet on the yield curve.
The yield on the 91-day bill declined marginally by 9.0 basis points to 15.16%.
That of the 182-day also eased to 15.70% from the previous 16.03%.
The interest on the 364-day bill also dropped by 15 basis points to 16.80%.
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