Govt records GH¢6.67bn T-Bill auction oversubscription

The government raised GH¢6.67 billion in its latest treasury bills auction. This amount slightly exceeded its target, as reported by the Bank of Ghana.

The auction had a modest oversubscription rate of 2.81%. The government surpassed its target by GH¢66.21 million. However, bids worth GH¢121.7 million were rejected.

The 91-day bill was the most popular, attracting GH¢5.7 billion in bids. This represented 84.4% of total submissions, and GH¢5.67 billion was accepted.

The 182-day bill received GH¢908 million in bids, all of which were accepted. The 364-day bill attracted just over GH¢187 million and was also fully accepted.

Yields on all tenors continued to trend downward, though slightly. The 91-day bill yield dropped by 20 basis points to 15.45%. The 182-day bill eased to 16.21%, down from 16.50%. The 364-day bill declined by 18 basis points to 18.65%.