Govt exceeds treasury bill target by GHS550m

The government has exceeded its Treasury bill target by GHS 550 million. This information comes from the latest auction results by the Bank of Ghana.

The target was set at GHS 6.14 billion, but total bids reached GHS 7.26 billion. Despite this oversubscription, the government rejected GHS 570.64 million in bids.

For the 91-day bill, GHS 5.32 billion in bids were tendered. Out of this, GHS 5.21 billion was accepted. The 182-day bill attracted GHS 1.56 billion in bids, with GHS 1.29 billion accepted.

For the 364-day bill, GHS 381 million was tendered and GHS 192 million accepted.

Interest rates across the yield curve remained stable, averaging between 15% and 18%. The yield on the 91-day bill fell to 15.32%, down from 15.45%. The yield on the 182-day bill dropped to 16.03%, down from 16.18%.

The yield on the 364-day bill decreased to 18.37%, down from 18.62%. This decline reflects government efforts to lower borrowing costs.

In the next auction, the Treasury plans to raise GHS 6.32 billion.