For the 5th consecutive week, the government recorded an oversubscription in its treasury bills auction.
According to auction results from the Bank of Ghana, the government saw a 43.59% oversubscription in the sale of short-term instruments.
The government received an impressive GH¢9.372 billion, as demand for T-bills surged, surpassing the target of GH¢6.527 billion.
Of the total bids tendered, GH¢5.59 billion came from the 91-day bill, representing 59.64% of the total. GH¢5.224 billion of this amount was accepted.
For the 182-day bill, GH¢1.522 billion was tendered, with only GH¢531.4 million accepted.
Once again, the one-year bill attracted more bids than the 182-day bill, with GH¢2.259 billion tendered and over GH¢2.240 billion accepted.
Meanwhile, interest rates decreased for the first time in several weeks.
The rate for the 91-day bill fell by 10 basis points to 28.41%.
For the 182-day bill, the yield dropped to 28.89%, compared with 29.77% the previous week.
The interest rate on the 364-day bill also declined by 3 basis points to 30.37%.
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