Investor interest in government treasuries continued to reach record highs as total bids tendered exceeded the target by over 144%.
According to auction results by the Bank of Ghana, total bids tendered were estimated at GH¢17.10 billion, but the government accepted GH¢12.3 billion.
The majority of the bids came from the 364-day bill, with an estimated GH¢6.54 billion tendered. This represented 38.2% of the total bids.
The uptake was GH¢5.9 billion.
For the 91-day bill, GH¢5.9 billion of the bids were tendered. The bids accepted were to the tune of GH¢2.7 billion.
Similarly, GH¢4.6 billion of the bids were tendered for the 182-day bill. A little over GH¢3.5 billion of the bids were accepted.
Meanwhile, interest rates fell across the yield curve.
The yield on the 91-day bill dropped by 37 basis points to 10.82%.
That of the 182-day bill also declined to 12.38%, from 1the previous 2.66%.
Again, the yield on the 364-day bill eased by 24 basis points to 12.82%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 5.90bn | 2.78bn |
| 182 Day Bill | 4.65bn | 3.54bn |
| 364 Day Bill | 6.54bn | 5.97bn |
| Total | 17.10bn | 12.30bn |
| Target | 6.99bn |
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Source: www.myjoyonline.com