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.SECURITIESBIDS TENDERED (GH¢)BIDS ACCEPTED (GH¢)91 Day Bill3.399bn3.399bn182 Day Bill1.689bn1.689bn364 Day Bill167.05mn167.05mnTotalGH¢5.256bnTargetGH¢4.40bn
Story By Myjoyonline.Com
