The government for the third week running, failed to meet its treasury bills target of GH¢4.63 billion.

According to the auction results by the Bank of Ghana, the government recorded 32.19% undersubscription of its auction target, higher than the previous week.  

According to auction results, the government got GH¢3.16 billion as against a target of GH¢ 4.63 billion. It, however, accepted GH¢2.84 billion of the bids.

The most subscribed bill was the 91-day bill, as GH¢2.02 billion of the bids were tendered, representing 63.8% of the total bids. However, the uptake was GH¢1.99 billion.

The 364-day bill recorded bids of about GH¢648 million. The uptake was GH¢416.93 million.

For the 182-day bill, GH¢498.9 million of the bids were tendered. The bids accepted were GH¢416.9 million.

Meanwhile, interest rates continued to increase again on the yield curve.

The yield on the 91-day bill remained relatively unchanged at 4.81%.

That of the 182-day bill also went up to 6.71% from the previous week’s 6.62%.

Similarly, the yield on the 364-day bill inched up by 7.0 basis points to 9.84%.