The government recorded a 19% oversubscription of treasury bills for the fifth consecutive week, though at a reduced target.
The government received about GH¢4.7 billion of the bids, but accepted a little over GH¢4.7 2 billion of the short-term instruments. The target for the auction was estimated at GH¢3.9 billion.
A little over 40% of the bids came from the 91-day bill. About GH¢1.948 billion of the bids were tendered. The uptake was GH¢1.943 billion.
For the 182-day bill, GH¢1.2 billion of the bids were tendered. The bids accepted were estimated to the tune of GH¢1.0 billion.
Similarly, GH¢1.60 billion of the bids were tendered for the 364-day bill. GH¢1.26 billion of the bids were accepted.
Meanwhile, interest rates surged across the shorter end of the market.
The yield on the 91-day bill increased by 7.0 basis points to 11.16%.
That of the 182-day bill also went up to 12.55%, from 12.52% the preceding week.
However, the yield on the 364-day bill declined by a basis point to 12.93%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 1.948bn | 1.943bn |
| 182 Day Bill | 1.225bn | 1.007bn |
| 364 Day Bill | 1.607bn | 1.263bn |
| Total | 4.78bn | 4.21bn |
| Target | 3.99bn |
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