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%.