Weekly T-bill Auction: Gov’t raises GH¢2.995bn; records 12.77% oversubscription as interest rates stagnate

Photo credit: ISSOUF SANOGO/AFP/Getty Images

Government in its Treasury Bill auction last Friday (Tender 1909), recorded an oversubscription of 12.77% as it sold bills worth GH¢2.9953 billion compared to its auction target of GH¢ 2.656 billion.

This would be the second consecutive week it is recording an oversubscription of its treasury bills auction, after it missed its target by 1.355% two weeks ago, when interest rates fell below 25% for the first time since July 2023.

Of the GH¢2.9953 billion raised, government accepted all GH¢ 2.358 billion worth of 91 day bills and GH¢ 64.31 million worth of 364 days bills tendered. On the other hand, out of the GH¢ 573.45 182 Day Bill tendered, government accepted GH¢ 572.92 million.

Interest rates have also seen their downward slide stagnate as the average rates for the 91-182 and 364 days bills bid at 24.8677%, 26.8011% and 27.7878% respectively compared to the average, 24.8675%, 26.8017% and 27.7878% they sold respectively in tender 1908.

Summary of Results of Tender 1909

Government for the tender 1910, whose auction occurs this Friday July 5, has revised upward its target, seeking to raise GH¢ 3.247 billion in bills.




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