The government missed its treasury bills target again by a massive GH¢2.262 billion as liquidity remains tight on the money market ahead of the December 7, 2024, general elections.
This represented an undersubscription of 37.09%.
According to auction results by the Bank of Ghana, the government got GH¢3.83 billion from the sale of the short-term instruments.
This is against a target of GH¢6.098 billion.
All the bids tendered for the instruments were accepted. Once again, a chunk of the bids came from the 91-day bill.
A little over GH¢2.9 billion, representing 76.9% of the bids were accepted.
About GH¢ 669.37 were tendered for the 182-day bill.
For the 364-day bill, GH¢216.58 million were gotten.
Meanwhile, interest rates rose on the yield curve.
The yield on the 91-day bill went up by 0.40% to 27.36%.
That of the 182-day bill also increased to 28.09% from 27.78% the previous week.
For the 364-day bill, the interest rate also went up to 29.87% from 29.21% the earlier week.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 2.949bn | 2.949bn |
| 182 Day Bill | 669.37m | 669.37m |
| 364 Day Bill | 216.58m | 216.58m |
| Total | 3835.93bn | |
| Target | 6.098bn | |