Treasury Bill auction records 99% acceptance rate from investors
The recent treasury bill auction by Government showcased robust participation, with total bids reaching GH¢3,535.76 million.
Notably, GH¢3,507.87 million of these bids were accepted, translating to a commendable acceptance rate of 99.21% by the Government.
Among the bill tenures, the 91-Day bill emerged as the star, garnering a substantial subscription of GH¢2,526.26 million.
In contrast, the 182-Day bill observed a decrease in subscription, amounting to GH¢261.69 million, down from the previous week’s GH¢649.39 million.
A marked surge in participation was witnessed for the 364-day bill, as bids worth GH¢747.81 million were tendered.
Despite the vibrant demand, interest rates maintained their upward trajectory. The 91-Day, 182-Day, and 364-Day bills noted respective increments of 52 basis points (bps), 32 bps, and 21 bps in their yields.
Consequently, yields settled at 26.09%, 27.60%, and 30.70%, echoing the prevailing trend of rising rates.
Looking ahead, the treasury aims to secure GH¢3,966.00 million through the issuance of 91, 182, and 364-Day bills this week.
The persistent demand for government securities, coupled with evolving interest rate dynamics, underscores the complexities faced by investors and issuers in navigating the contemporary financial landscape.
