T-bills: Government records 19.47% oversubscription; interest rates remain stable

The government saw a 19.4% oversubscription in its treasury bills auction, signalling a resurgence in demand for short-term instruments.

According to the Bank of Ghana’s auction results, interest rates have remained stable.

The auction raised GH¢5.256 billion from the sale of these short-term instruments.

The bulk of the bids were for the 91-day T-bills, with GH¢3.39 billion—accounting for 64.67% of the total—being tendered.

All bids were accepted for the 91-day T-bills.

Similarly, GH¢1.689 billion was raised from the 182-day bills, with all submitted bids accepted.

For the 364-day bills, GH¢167.05 million worth of bids were tendered and all were accepted.

Meanwhile, interest rates remained consistent across the yield curve.

The yield on the 91-day bill held steady at 25.03%.

The yield on the 182-day bill stood at 26.93%, up slightly from 26.91% the previous week.

For the 364-day bill, the interest rate was 27.92%, marginally up from 27.90% the prior week.