The government recorded a 19.75% oversubscription of treasury bills barely a week after President Mahama won the presidential elections.
According to the Bank of Ghana’s T-bill auction results, demand for the short-term instruments soared following successful general elections.
The government got GH¢8.20 billion from selling the short-term instruments.
All the bids were accepted.
A little over GH¢6.740 billion were secured from the 91-day bill, representing 82.1% of the total bids.
For the 182-day bill, GH¢951.67 million were tendered.
The 364-day bill also recorded GH¢508.15 million from the sale of the 364-day bill.
Meanwhile, interest rates neared the 30% mark.
The yield on the 91-day bill increased by 17 basis points to 27.77%.
That of the 182-day bill was 28.49% from the previous week’s 28.32%.
The interest rate on the 364-day bill also went up by 3.0 basis points to 29.94%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 6.740bn | 6.740bn |
| 182 Day Bill | 951.67m | 951.67m |
| 364 Day Bill | 508.15m | 508.15m |
| Total | 8.200bn | |
| Target | 6.848bn | |
Source: Joy Business
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