Audio By Carbonatix
The weak bids on the treasury market as the government failed to meet its treasury bills target once again.
According to auction results by the Bank of Ghana, the T-bills were undersubscribed by 30.45%.
Investors continue to look at other financial instruments that provide high returns, hence abandoning the treasury market.
According to the trading results, the government received GH¢3.94 billion, compared to a target of GH¢5.67 billion.
A little over 77% of the bids came from the 91-day bill. About GH¢3.07 billion of the bids were tendered. The uptake was GH¢2.97 billion.
For the 182-day bill, GH¢613.27 million of the bids were tendered. The bids accepted were estimated to be worth GH¢608.2 million.
Also, GH¢257 million of the bids were tendered for the 364-day bill. About GH¢254 million of the bids were accepted.
Meanwhile, interest rates remained the same on the yield curve.
The yield on the 91-day bill went for 11.02%.
That of the 182-day also stood at 12.66%.
The yield on the 364-day bill remained the same at 13.08%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 3.078bn | 2.970bn |
| 182 Day Bill | 613.27m | 608.27m |
| 364 Day Bill | 257.13 | 254.13m |
| Total | ||
| Target | 5.679bn |
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