The government failed to meet its treasury bills target for the second week running. According to auction results by the Bank of Ghana, the government’s T-bills were undersubscribed by nearly 30%.

The Treasury received a little over GH¢3 billion, compared to a target of GH¢4.24 billion.

The majority of the bids came from the 91-day bill.  

A little over GH¢2.0 billion, representing 68.4% of the bids, were tendered for the 3-month bill. The uptake was GH¢2.02 billion.

For the 182-day bill, GH¢678.18 million of the bids were tendered. The bids accepted were estimated to the tune of GH¢537.69 million.

Also, GH¢272.58 million were tendered for the 364-day bill. About GH¢167 million were accepted.

Meanwhile, Interest rates were, however, mixed on the yield curve

The yield on the 91-day bill went down by 7.0 basis points to 10.13%.

That of the 182-day bill, however, went up to 12.23% from 11.54% the previous week.

The yield on the 364-day bill nonetheless decreased by 2.0 basis points to 13.08%.