T-bill yields drop further as govt records slight oversubscription

The government has exceeded its Treasury bill target, raising GHS 8.77 billion against a target of GHS 8.26 billion, marking a 6.22% oversubscription.

The 91-day bill saw full acceptance of GHS 6.2 billion, while the 182-day and 364-day bills had partial acceptances of GHS 1.80 billion and GHS 746 million, respectively.

Interest rates on Treasury bills continue to decline, with the 91-day, 182-day, and 364-day bills dropping to 15.88%, 16.93%, and 17.98%, respectively.

However, the rate of decline has slowed as the government aims to reduce borrowing costs. In the upcoming auction, the Treasury seeks to raise GHS 6.14 billion.