The government failed to meet its treasury bills target, only a week after it returned to oversubscription of the short-term instruments.
According to the Bank of Ghana’s auction results, the Treasury got a little over GH¢6.50 billion as against a target of GH¢8.28 billion.
Yet again, the chunk of bills tendered came from the 91-day T-bills.
A little over GH¢ 5.49 billion of the bids were tendered, but the uptake was GH¢ 5.25 billion.
For the 182-day bill, GH¢789.20 million of the bids were tendered. The bids accepted were estimated to the tune of GH¢784.20 million.
Also, GH¢214.99 million of the bids were tendered for the 364-day bill. About GH¢209.54 million of the bids were accepted.
Meanwhile, interest rates on the shorter end of the market increased, reflecting the low demand by investors.
The yield on the 91-day bill increased by 11 basis points to 10.53%.
That of the 182-day bill also shot up to 12.44% from 12.41% the preceding week. However, the yield on the 364-day bill decreased by 2.0 basis points to 12.95%.