Gov’t Targets GHS 5.08 Billion in Upcoming T-Bill Auction to Settle GHS 4.79 Billion Maturing Obligations
The Government is aiming to secure GHS 5.08 billion in this Friday’s auction of 91-day, 182-day, and 364-day Treasury bills, a target slightly lower by 4.34% compared to the previous week’s GHS 5.31 billion target.
The targeted auction amount is intended to cover maturing obligations amounting to GHS 4.79 billion.
In the previous week, the government fell GHS 88.41 million short of its target, although market appetite remained robust, with bids totaling GHS 5.23 billion.
The 91-day bill garnered the most interest, with accepted bids reaching GHS 3.72 billion, followed by GHS 1.25 billion for the 182-day bill and GHS 252 million for the 364-day bill.
Yields across the board saw marginal declines. The average yield on the 91-day bill slipped by 5 basis points to 24.79%, while the 182-day and 364-day bills saw decreases of 6 and 4 basis points, respectively, settling at 26.69% and 27.81%.
Despite the slight drop in yields, investor demand remains resilient, reflecting confidence in the short-term instruments amidst a cautious economic environment.
