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%).
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
