Gov’t raises T-Bill target in next auction by 22.2%; seeks to settle GHS 2.44bn in upcoming maturities
The Government aims to raise GH¢3.2 billion in its next T-Bill auction on Friday, July 5, which represents a 22.25% increase from the previous week’s target of GH¢2.6 billion.
The 91, 182, and 364-Day bills will be issued to help cover upcoming maturities valued at GH¢2.44 billion.
In the Central Bank’s last auction on Friday, June 28, some GH¢2.9 billion was mobilized, exceeding the target of GH¢2.6 billion by GH¢339 million.
Market demand for treasury bills that week amounted to GH¢2.9 billion, with a 99.98% acceptance rate for all bids tendered.
The 91-day Bill received the highest subscriptions, followed by the 182-Day Bill and the 364-Day Bill.
Accepted bids were GH¢2,358.07 million for the 91-Day, GH¢572.92 million for the 182-Day, and GH¢64.31 million for the 364-Day tenors.
Yields for the T-Bills showed no significant change, settling at 24.87% for the 91-Day, 26.80% for the 182-Day, and 27.79% for the 364-Day bills respectively.
