Audio By Carbonatix
The government recorded an astonishing 162% oversubscription of the treasury bills sales.
According to auction results by the Bank of Ghana, most of the investors bought the 364-day bill because of its high yield.
The government accepted about GH¢5.8 billion of the total bids.
The 364-day bill was once again the most subscribed bill as GH¢9.9 billion of the bids were tendered, representing 183% of the total bids.
The uptake was, however, GH¢2.6 billion.
The 182-day bill received bids of GH¢1.2 billion. A little above GH¢766 million was accepted.
For the 91-day bill, GH¢3.1 billion of the bids were tendered. A little above GH¢2.4 billion of the bids were accepted.
Meanwhile, interest rates continued to dip on the yield curve.
The yield on the 91-day bill went up by 39 basis points to 5.07%.
That of the 182-day bill also decreased to 7.08% from the previous week’s 7.27%.
Similarly, the yield on the 364-day surged by 91 basis points to 11.59%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 3.12bn | 2.40bn |
| 182 Day Bill | 1.20bn | 766.21m |
| 364 Day Bill | 9.93bn | 2.68bn |
| Total | 14.26bn | 5.85bn |
| Target | 5.42bn |
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