Following the successful completion of the Domestic Debt Exchange Programme last week, government Treasury bills sale was significantly oversubscribed by about 82% to the tune of ¢3.10 billion.
However, ¢2.75 billion was accepted.
The government was seeking to raise ¢1.708 billion from this issuance.
According to the auction result published by the Bank of Ghana, the 91-day T-bill was hugely patronised with an uptake of about ¢2.32 billion.
A little over ¢2.51 billion was however tendered by the investors largely banks.
For the 182-day T-bill, about ¢595 million was tendered, but the government accepted ¢435.19 million.
Since the treasury market has become the only source of financing for government, investors are increasing their appetite for the short-term securities.
Meanwhile, interest rates on the yield curve fell marginally though remained high.
Whilst the 91-day T-bill retreated to 35.66%, that of the 182-day bill went for 35.71%.
Securities | Bids Tendered (GH¢) | Bids Accepted (GH¢) |
91-day | 2.514 billion | 2.323 billion |
182-day | 595.08 million | 435.19 million |
Total | ¢3.109 billion | ¢2.758 billion |
Target | ¢1.708 billion |
Latest Stories
-
Government pushes for use of more local materials in housing, other infrastructure projects
32 mins -
Dr Bawumia extends Easter greetings to Christians
43 mins -
CAF Confederation Cup: ‘Ghanaians should expect victory against Stade Malien’ – Dreams FC forward Ishmael Dede
1 hour -
CAF Confederation Cup: ‘We want to go there and win’ – Karim Zito on Stade Malian clash
2 hours -
Togbe Adzie Lãkle Howusu XII endorses youth leadership as New Force Movement gains momentum
2 hours -
Public Utility Workers Union appeals to PURC to address power crisis
2 hours -
Anbariya loses another appeal in Kumasi as Appeal Court ratifies High Court ruling against the Islamic Institute
3 hours -
Highway construction health hazard: Ofankor-Pokuase-Nsawam residents appeal for dust relief
3 hours -
SuperJazzClub releases its first single of the year ‘Off’
3 hours -
Methodist Church to lobby Akufo-Addo for expedited assent to anti-LGBTQI+ Bill
3 hours -
Spare health facilities from unplanned ‘dumsor’ – Minority to government
3 hours -
Eritrea Observed World Tuberculosis (TB) Day 2024
4 hours -
Just give us ‘dumsor’ timetable to plan our operations – GMA tells ECG
4 hours -
Parliament petitions Chief Justice for an expedited hearing of cases against anti-LGBTQI+ Bill
4 hours -
The Attorney General vs NDC impasse – why they ‘fight’
4 hours