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FIM: Gov’t exceeds auction target of GHS 1.81 billion

3 years ago
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FIM: Gov’t exceeds auction target of GHS 1.81 billion

Government exceeded its target of raising some GHS 1.81 billion in the issuance of the 91, 182 and 364 days treasury bills on the fixed income market [FIM].

At last week’s auction, government in auctioning the short term debt instruments managed to secure GHS 2.39 billion raising an additional GHS 215 million to its programmed auction target of GHS 2.17 billion.

Accepted bids were below tendered bids as as GHS 1,422.18 million was raised in 91-Day Bills,  GHS 921 million in 182-Day Bills and GHS 62 million in 364-Day  Bills as compared to GHS 2,246 million raised in 91-Day Bills and  GH¢502 million in 182-Day Bills at the previous auction.

AMOUNT RAISED THIS WEEK 

Treasuries Bids Tendered  

(GH¢ MN)

Bids Accepted  

(GH¢ MN)

91-Day T-Bill 2,109.05 1,422.18
182-Day T-Bill 986.61 921.21
364-Day T-Bill 62.29 62.12
TOTAL 3,157.95 2,405.51

The strong demand led to a decline in yields on 91-Day Bills and  182-Day Bills which settled at 35.57% (-0.61%) and 36.73% (-0.20%) respectively, marking the first decline in T-bill yields since January  2022.

However, the 364-day bill yield cleared higher at 36.19% (0.29%). 

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RESULTS OF LAST WEEK’S TREASURY BILL AUCTION 

GOG Treasuries Current Previous Change 
91-Day T-Bills 35.57% 36.18% -0.61%
182-Day T-Bills 36.53% 36.73% -0.20%
364-Day T-Bills 36.19% 35.90% 0.291%

The target for the next auction (Tender #1829) is GHS 1,984 million in 91-DayBills,182-DayBills and 364-Day Bills 91-Day Bills, 182-Day Bills and 364-Day Bills

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