The government failed to meet its treasury bills target for the second week running. According to auction results by the Bank of Ghana, the government’s T-bills were undersubscribed by nearly 30%.
The Treasury received a little over GH¢3 billion, compared to a target of GH¢4.24 billion.
The majority of the bids came from the 91-day bill.
A little over GH¢2.0 billion, representing 68.4% of the bids, were tendered for the 3-month bill. The uptake was GH¢2.02 billion.
For the 182-day bill, GH¢678.18 million of the bids were tendered. The bids accepted were estimated to the tune of GH¢537.69 million.
Also, GH¢272.58 million were tendered for the 364-day bill. About GH¢167 million were accepted.
Meanwhile, Interest rates were, however, mixed on the yield curve
The yield on the 91-day bill went down by 7.0 basis points to 10.13%.
That of the 182-day bill, however, went up to 12.23% from 11.54% the previous week.
The yield on the 364-day bill nonetheless decreased by 2.0 basis points to 13.08%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 2.059bn | 2.023bn |
| 182 Day Bill | 678.18m | 537.69m |
| 364 Day Bill | 2722.58m | 167.66m |
| Total | 3.009.99bn | 2.728.58bn |
| Target | 4.242bn |
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