Investor interest in treasury bills continued to rise as the government exceeded its target by 139%.
According to auction results by the Bank of Ghana, most of the investors bought the 364-day bill because of its high yield.
The government received bids worth GH¢12.3 billion, but accepted GH¢6.5 billion.
The 364-day bill was once again the most subscribed bill as GH¢7.4 billion of the bids were tendered, representing 60.7% of the total bids.
The uptake was, however, GH¢2.7 billion.
On the other hand, the 182-day bill received bids of GH¢1.2 billion. A little above GH¢935 million was accepted.
For the 91-day bill, GH¢3.5 billion of the bids were tendered. A little above GH¢2.8 billion of the bids were accepted.
Meanwhile, interest rates continued to retreat on the yield curve.
The yield on the 91-day bill went up by 13 basis points to 4.94%.
That of the 182-day bill also declined to 6.87% from the previous week’s 7.08%.
Similarly, the yield on the 364-day went down by 82 basis points to 10.77%.
SECURITIES
BIDS TENDERED (GH¢)
BIDS ACCEPTED
(
GH¢)
91 Day Bill 3.55bn2.84bn182 Day Bill1.28bn935.22m364 Day Bill7.499bn2.746bn
Total
12.34bn6.52bn
Target
5.147bn
