The government has recorded a 15.8% oversubscription of treasury bills after four consecutive weeks of missing its target.
This follows an increase in yields on the shorter end of the treasury market.
According to auction results released by the Bank of Ghana, the government received GH¢4.38 billion in total bids but accepted GH¢4.36 billion.
A little over 82% of the bids came from the 91-day bill, with GH¢3.62 billion tendered and GH¢3.61 billion accepted. For the 182-day bill, GH¢576.7 million was tendered, out of which GH¢566.7 million was accepted.
In the case of the 364-day bill, GH¢187.2 million was tendered, with about GH¢182 million accepted.
Meanwhile, the yield on the 91-day bill increased slightly by a basis point to 10.42%, while the 182-day bill rose to 12.41% from 12.37% the previous week. However, the yield on the 364-day bill dipped by 2.0 basis points to 12.97%.
Source: Joy Business
