The government missed its target for treasury bills for the 9th week, as liquidity remained tight on the money market ahead of the December 2024 elections.
According to auction results from the Bank of Ghana, the government’s target fell short by GH¢754.86, about 13.47% undersubscription.
The government secured GH¢4.84 billion from a target of GH¢5.604 billion.
All the bids tendered for the short-term instruments were accepted.
GH¢3.903 billion was tendered for the 91-Day Bill. This represented 80.49% of the total bids.
For the 182-Day Bill, GH¢748.58 million was tendered.
The 364-Day Bill received the lowest bid of GH¢197.11 million.
Meanwhile, interest rates went up marginally on the yield curve.
The yield on the 91-Day Bill went up by 2.0 basis points to 24.90%.
That of the 182-Day Bill remained relatively the same at 26.78%.
However, the 364-Day Bill increased slightly to 27.92% from the previous week’s 27.91%.SECURITIESBIDS TENDERED (GH¢)BIDS ACCEPTED (GH¢)91-Day Bill3.903 billion3.903 billion182-Day Bill748.58 million748.58 million364-Day Bill197.11 million197.11 millionTotal4849.14 billion4849.14 billionTarget5.604
Story By Myjoyonline.Com
