T-Bills: Treasury Rejects GHS 2.9 Billion Amid GHS 10.5 Billion Total Bids for Debt Instruments
Bids tendered in by primary dealers for the Government’s short-term debt instruments last Friday, February 7, totaled GHS 10.5 billion.
Of the total amount, some GHS 7.65 billion was accepted by the Treasury, rejecting bids totaling GHS 2.9 billion.
The accepted GHS 7.65 billion bids were GHS 392 million higher than the targeted GHS 7.25 billion.
The GHS 7.65 billion bids accepted by the treasury in the 91-day and 182-day debt instruments were lower than the anticipated GHS 8.36 billion maturities to be settled by the Government.
Yield on the 91-day and 182-day T-Bills declined by 43 basis points and 21 basis points respectively as the Treasury moved to reduce the high interest rates on the short-term debt instruments.
The 91-day and 182-day T-Bills ended the auction at 28.1% and 28.87% respectively.
In the next auction scheduled for February 14, 2025, the Government will be aiming to raise some GHS 8.06 billion to settle maturing bills worth GHS 7.5 billion.
