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T-Bills oversubscribed by nearly GHS 800m as Gov’t rakes in GHS 3.9bn

2 years ago
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T-Bills oversubscribed by nearly GHS 800m as Gov’t rakes in GHS 3.9bn

The 91, 182, and 364-day treasury bills auctioned by the Bank of Ghana (BoG) on behalf of the government, saw some GHS 3,902 million mobilised as credit from investors to the government.

The secured GHS 3,902 million was against a programmed auction target of GHS 3,105 million.

Government, in accepting the GHS 3,902 million bids tendered, exceeded its target by GHS 797 million.

A total of GHS 3,241m and GHS 410m bids were tendered for the 91 day and 182 day with the government accepting bids amounting to GHS 3,145m and GHS 409m respectively.

For the 364-day bill, a total of GHS 353m was tendered with the government accepting bids worth GHS 348m  tendered for the debt security.

The oversubscription of the short-term debt securities was despite some marginal decline in interest rates on the debt instruments for investors.

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Interest rates on the 91, 182 and 364-day T-Bills were 29.8%, 31.8% and 33.4% respectively.

Hence effectively, interest rates on the 91, 182 and 364 day T-Bills on a week-on-week basis fell by 0.1%, 0.3% and 0.3% respectively.

Meanwhile, in the upcoming issuance of the 91-day, 182-day, and 364-day treasury bills on November 17, 2023, Government will be seeking to secure some GHS 3,266m in fresh funding to meet its short-term financing needs.

Tags: T-billsT-Bills oversubscribed by nearly GHS 800m as Gov't rakes in GHS 3.9bn
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