Banking and Finance
T-bills auction: Government gets ¢5.06bn; sale oversubscribed by 75%
Government Treasury bills sale were oversubscribed by 75% to the tune of ¢5.06 billion.
According to the auction result published by the Bank of Ghana, participation of the 91-day T-bill was almost to the tune of ¢3 billion.
Indeed, the 91-day and the 364-day bills recorded immense investor participation.
Whilst the 3-months received bids of about ¢2.93 billion, that of the one-year bill got bids worth about ¢1.46 billion. All the bids were, however, accepted by the government.
For the 182-day bill, all the bids of about ¢665 million were accepted.
Meanwhile, interest rates retreated further for the third week running.
Whilst the yield on the 91-day T-bill went down marginally by 0.12% to 35.54%, the six months bill also fell by 0.16% to 35.84%.
The interest rate on the 364-day bill also stood at 34.12%.
|Securities||Bids Tendered (GH¢)||Bids Accepted (GH¢)|
|91-day||2.93 billion||2.93 billion|
|182-day||665.99 million||665.99 million|
|364-day||1.46 billion||1.46 billion|
|Total||5.067 billion||5.067 billion|
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