The government registered a 30 percent oversubscription at last week’s auction, exceeding its objective for treasury bills. Despite a target of GHS 2.7 billion, a total of GHS 3.5 billion was secured, even with lowering interest rates. About GHS 2.71 billion worth of the 91-day T-bills were accepted as the majority of bids. GHS 608 million of the bids were tendered for the 182-day bill, and the same amount was taken up.
Bids of GHS 201 million were recorded in the 364-day bill. Every bid was approved. The Treasury market is still seeing yields in the range of 25 to 27 percent. The three-month bill’s yields decreased slightly from 25.10% to 25.03%. The one-year bill reduced from 27.95% to 27.91%, while the six-month bill decreased little from 26.95% to 26.92%.
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