The government has exceeded its Treasury bill target by GHS550 million, according to the latest auction results released by the Bank of Ghana.
Although the initial target was set at GHS6.14 billion, total bids submitted amounted to GHS7.26 billion. Despite the oversubscription, the government accepted only GHS6.69 billion, rejecting GHS570.64 million worth of bids to maintain prudent debt management.
Breaking down the figures, the 91-day bill attracted GHS5.32 billion in bids, with GHS5.21 billion accepted. For the 182-day bill, GHS1.56 billion was tendered, of which GHS1.29 billion was accepted. Meanwhile, the 364-day bill recorded GHS381 million in bids, with GHS192 million accepted.
Interest rates across the yield curve remained relatively stable. The yield on the 91-day bill edged down to 15.32% from 15.45% the previous week. Similarly, the 182-day bill fell to 16.03%, compared to 16.18% previously, while the 364-day bill declined to 18.37% from 18.62%.
The continued moderation in rates reflects the government’s ongoing efforts to lower borrowing costs and sustain fiscal stability.
Looking ahead, the Treasury plans to raise GHS6.32 billion in the next auction.
