T-bills: Government records marginal oversubscription; yields on 182-day and 364-day bills dip

The government registered a marginal oversubscription of treasury bills auction to the tune of GH¢3.60 billion.

According to the auction results by the Bank Ghana, the government recorded 1.38% oversubscription of the T-bills sale.

Liquidity has been very tight on the money market for some time now.

Per the results of the auction, investors showed more interest in the 91-Day bill than the other financial instruments.

About GH¢2.761 billion, representing 76.61% came from the 3.0 months instrument. The uptake was the same as the bids tendered.

For the 182-Day bill, GH¢660.62 million of the bids were tendered and all were accepted.

About GH¢182.4 million were also tendered for the 364-Day Bill. Again, all the bids were accepted.

But there was mixed development with respect to the yield curve.

For the interest rates, the yield on the 91-Day Bill went up slightly to 24.86%, from 24.85% the previous week.

That of the 182-Day Bill dipped by 2.0 basis points to 26.80%.

Similarly, the yield on the 364-Day Bill also went down to 27.78%, from 27.81% the preceding week.