The government has exceeded its Treasury bill target by GHS 550 million, according to the latest auction results released by the Bank of Ghana.
The total bids amounted to GHS 7.26 billion, surpassing the target of GHS 6.14 billion. Although GHS 570.64 million in bids were rejected, the government was able to raise more funds than anticipated.
The auction results showed that:
For the 91-day bill, GHS 5.32 billion was tendered, with GHS 5.21 billion accepted.
For the 182-day bill, GHS 1.56 billion in bids were received, with GHS 1.29 billion accepted.
For the 364-day bill, GHS 381 million was tendered, with GHS 192 million accepted.
Interest rates across the yield curve remained relatively stable but continued to decline, reflecting government efforts to lower borrowing costs. The yields on the Treasury bills dropped, with:
The 91-day bill edging down to 15.32% from 15.45% the previous week.
The 182-day bill falling to 16.03% from 16.18%.
The 364-day bill dropping to 18.37% from 18.62%.
The Treasury plans to raise GHS 6.32 billion in its next auction, as part of its financing strategy. The government’s ability to exceed its target and lower borrowing costs will be closely watched by investors and analysts.
Source: Apexnewsgh.com
