T-Bills oversubscribed by 37.8% in latest auction
The Bank of Ghana’s Treasury bills auction, target of GH¢2,594.00 million, received 37.83% bids more from
investors this week.
Bids amounting to GH¢3,569.67 million, were accepted during this auction representing a 99.84% acceptance rate.
Among the various tenors, the 91-day Bill attracted the highest number of subscriptions, followed by the 182-Day Bill and the 364-Day Bill.
The successful bids after the auction amounted to GH¢2,154.58 million, GH¢746.11 million, and GH¢668.98 million for the 91–Day, 182-Day, and 364-Day tenors, respectively.
The auction yields settled at averages of 29.36% for the 91 Day Bill and 31.95% for the 182-Day Bill both advancing by 31bps and 81bps respectively compared to the average rates for the previous auction.
The 364-Day bills saw no significant yield change to remain at 32.49%.
Looking ahead to the next auction, the treasury aims to raise a reduced GH¢4,075.00 million through the issuance of 91,182, and 364 Day bills to cater for impending maturities to the sum of GH¢2.37 billion.
