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Treasury Misses Treasury Bill Auction Target for Third Consecutive Week, Raising GHS 3.67 Billion

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Treasury Misses Treasury Bill Auction Target for Third Consecutive Week, Raising GHS 3.67 Billion

The Government has once again missed its Treasury Bill auction target raising GHS 3.67 billion last Friday, significantly short of its GHS 5.98 billion auction target.

The reduced demand for the short-term debt instruments resulted in an under-subcribtion of GHS 2.30 billion.

This marks the third consecutive week of undersubscription, following a shortfall of GHS 2.67 billion the previous week when the government sought to raise GHS 7.43 billion.

The inability of the Government to achieve its auction target can be attributed to the reduction in yields across the three tenors.

Yields across the three maturities decreased during the auction, with the 91-day bill ending with a yield of 25.45% after a decline of 0.19%.

The 182-day bill fell by 0.12% to a yield of 26.80%, while the 364-day bill dipped by 0.16% to 28.51%.

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Notably, the 91-day Treasury Bill attracted strong interest, drawing GHS 2.91 billion in bids. The 182-day bill secured GHS 572 million, while the 364-day bill saw demand totaling GHS 189 million.

Looking forward, the government aims to raise GHS 4.56 billion in its next Treasury Bill auction, continuing its focus on the 91-day, 182-day, and 364-day maturities.

Tags: Raising GHS 3.67 BillionTreasuryTreasury Bill auctionTreasury Misses Treasury Bill Auction Target for Third Consecutive Week

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