The government has surpassed its Treasury bill target by GHS 550 million, according to the latest auction results from the Bank of Ghana. With a target set at GHS 6.14 billion, total bids reached GHS 7.26 billion. Despite the oversubscription, the government rejected GHS 570.64 million in bids.
Data reveals that for the 91-day bill, GHS 5.32 billion in bids were tendered, with GHS 5.21 billion accepted. The 182-day bill attracted GHS 1.56 billion in bids, out of which GHS 1.29 billion was accepted. For the 364-day bill, GHS 381 million was tendered, with GHS 192 million accepted.
Interest rates across the yield curve remained relatively stable, averaging between 15% and 18%. The yield on the 91-day bill dipped to 15.32% from 15.45% the previous week, while the 182-day bill fell to 16.03% from 16.18%. The 364-day bill decreased to 18.37% from 18.62%.
This continued decline in rates reflects the government’s efforts to lower borrowing costs. In the upcoming auction, the Treasury plans to raise GHS 6.32 billion.
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