T-bills: Government records 19.47% oversubscription; interest rates remain stable

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The government recorded a 19.4% oversubscription of its treasury bills auction, as demand for the short-term instruments rebounded.

According to auction results by the Bank of Ghana, interest rates, however, remain stable.

The government got GH¢5.256 billion from the sale of the short-term instruments.

The majority of the bids came from the 91-day T-bills. GH¢3.39 billion, representing 64.67% were tendered.

The uptake was the same as the bids tendered.

Similarly, GH¢1.689 billion came from the 182-day bill. All the bids were accepted.

For the 364-day bill, GH¢167.05 million of the bids were tendered and all were accepted.

Meanwhile, interest rates remain stable across the yield curve.

The yield on the 91-day bill remained at 25.03%.

That of the 182-day bill stood at 26.93%, as against 26.91% the prior week.

For the 364-day bill, the interest was 27.92% compared to 27.90% the previous week.

SECURITIES	BIDS TENDERED (GH¢)	BIDS ACCEPTED (GH¢)
91 Day Bill	3.399bn	3.399bn
182 Day Bill	1.689bn	1.689bn
364 Day Bill	167.05mn	167.05mn

Total	GH¢5.256bn
Target	GH¢4.40bn

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