The government recorded a 19.0% oversubscription of treasury bills for the fifth week running.
The target for the auction was estimated at GH¢3.3 billion, but the government got GH¢3.95 billion, about 19.69% oversubscription.
It however accepted GH¢3.89 billion of the total bids.
According to auction results by the Bank o Ghana, a little over 61% of the bids came from the 91-day bill. GH¢2.449 billion of the bids were tendered. The uptake was GH¢2.447 billion.
For the 182-day bill, GH¢781.43 million of the bids were tendered. The bids accepted were estimated to the tune of GH¢726.43 million.
Also, GH¢726.43 million of the bids were tendered for the 364-day bill. The same amount of the bids were accepted.
Meanwhile, interest rates increased across the yield curve.
The yield on the 91-day bill went up by a basis point to 11.09%.
That of the 182-day bill, also jumped to 12.52%, from 12.43% the previous week.
The yield on the 364-day bill rose by 3.0 basis points to 12.94%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 2.449bn | 2.447bn |
| 182 Day Bill | 781.43m | 726.43mn |
| 364 Day Bill | 726.43mn | 726.43mn |
| Total | 3.957bn | 3.897bn |
| Target | 3.306bn |
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Source: www.myjoyonline.com
