Treasury Bill Sales Exceed Target with 12.79% Oversubscription

Quick Summary

The government recorded a 12.79% oversubscription in its recent treasury bill auction, securing GH¢2.99 billion against a target of GH¢2.65 billion. The majority of the bids were for the 91-day bill, with interest rates remaining stable across all maturities.

Full Article

In a notable financial move, the government achieved a 12.79% oversubscription in its latest treasury bill auction, as reported by the Bank of Ghana. The auction results revealed that the government secured GH¢2.99 billion, surpassing the target of GH¢2.65 billion.

Breaking down the figures, bids for the 91-day bill amounted to GH¢2.358 billion, representing 88.7% of the total, all of which were accepted. The 182-day bill attracted GH¢573.45 million from investors, with the government accepting all bids as well. For the 364-day bill, GH¢64.31 million was tendered, and again, all bids were accepted.

Interest rates remained stable across the yield curve during this period. The yield on the 91-day bill stood at 24.86%, while the 182-day bill maintained a rate of 26.80%. The 364-day bill also saw steady rates at 27.78%.

This auction demonstrates robust investor confidence and the government's ability to attract funds even with reduced targets, maintaining stability in interest rates across different maturities.