Gov’t exceeds T-Bills auction target of GHS 2.17bn by GHS 214m
Government, in its T-Bills auction last week Friday, November 21, exceeded its auction target by some GHs 214m.
Target set for the T-Bills auction was GHS 2.17bn. Government at the end of the auction, mobilised funds in excess of GHS 2.39bn.
This is the second time in a row that Government has exceeded its auction target.
The first time was last week when Government exceeded its target by GHS 487m mobilising some GHS 1.65bn in total bids.
Prior to that, the Government had for four consecutive weeks missed its auction targets.
Bids tendered for the 91, 182 and 364 day were GHS 2.06bn, GHS 223m and GHS 101m respectively with government accepting all bids tendered in.
The 91, 182 and 364 day bills were auctioned at high interest rates of 36.3%, 36.6% and 36.2% respectively.
In the next auction – 91 day and 182 day T-Bills – Government will once again be seeking to raise a total of GHS 1.85bn from the domestic debt market.
