Government has exceeded its target in the latest Treasury Bills auction, raising approximately GH¢11.4 billion against a target of GH¢9.32 billion.
The Bank of Ghana’s auction results for Tender 1995, held on Friday, February 20, showed strong investor demand across all three maturities: 91-day, 182- day, and 364-day bills.
A total of 25.2 billion GHS in bids were tendered, of which the Government accepted GHS 11.41 billion.
For the 91-day bill, investors submitted bids totalling GH¢8.61 billion, of which GH¢3.19 billion were accepted.
The 182-day bill recorded bids of GH¢7.22 billion, out of which GH¢2.45 billion were taken up.
The 364-day bill saw the largest appetite, attracting GH¢9.38 billion in bids, of which GH¢5.78 billion were accepted.
The weighted average interest rates were reported as 6.45 per cent for the 91-day, 8.18 per cent for the 182-day, and 10.21 per cent for the 364-day bills.
The Government has set a target of GH¢5.81 billion for the next auction, Tender 1996, covering the same maturities.
Source:
www.myjoyonline.com