For the second week running, the government failed to meet its treasury bills target. According to the auction results by the Bank of Ghana, the government recorded 20.14% undersubscription of its auction target.
According to auction results, the government got GH¢3.93 billion as against a target of GH¢ 4.93 billion. It, however, accepted GH¢3.23 billion of the bids.
The most subscribed bill was the 91-day bill, as GH¢2.55 billion of the bids were tendered, representing 64.7% of the total bids. However, the uptake was GH¢2.21 billion.
For the 182-day bill, GH¢762.97 million of the bids were tendered. The bids accepted were GH¢661 million.
The 364-day bill recorded bids of about GH¢625.12 million. The uptake was GH¢ 359.17 million.
Meanwhile, interest rates surged once again on the yield curve.
The yield on the 91-day bill increased by 3.0 basis points to 4.81%.
That of the 182-day bill also went up to 6.62% from 6.36% the preceding week.
Similarly, the yield on the 364-day bill inched up by 19 basis points to 9.77%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 2.55bn | 2.21bn |
| 182 Day Bill | 762.97 | 661.00m |
| 364 Day Bill | 625.12m | 359.17m |
| Total | 3.93bn | 3.23bn |
| Target | 4.932bn |
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Source: www.myjoyonline.com
