For the 4th week running, the government failed to meet its treasury bills target of GH¢7.5 billion.
According to the auction results by the Bank of Ghana, the government recorded 29.3% undersubscription of its auction target, higher than the previous week.
The government received about GH¢5.3 billion as against a target of a little over GH¢7.5 billion. It, however, accepted GH¢5.1 billion of the bids.
The 91-day bill was once again the most subscribed bill as GH¢4.43 billion of the bids were tendered, representing 83% of the total bids. The uptake was, however, GH¢4.42 billion.
For the 182-day bill, GH¢521.96 million of the bids were tendered. All the bids were accepted.
The 364-day bill recorded bids of about GH¢348 million. The uptake was GH¢162.59 million.
Meanwhile, interest rates continued to surge on the yield curve.
The yield on the 91-day bill increased by 10 basis points to 4.91%.
That of the 182-day bill also went up to 6.77% from the previous week’s 6.71%.
Similarly, the yield on the 364-day bill inched up by 13 basis points to 9.97%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 4.43bn | 4.42bn |
| 182 Day Bill | 521.96m | 521.96m |
| 364 Day Bill | 348.94 | 162.59m |
| Total | 5.34bn | 5.11bn |
| Target | 7.573bn |
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Source: www.myjoyonline.com