Government bags GHS5 billion from T-bills auction

Business Finance


Demand for treasury bills surged as interest rates fell in the money market, according to the latest Bank of Ghana auction results.

The government successfully raised nearly GHS5 billion from the sale of T-bills, resulting in a significant oversubscription of about 33.8%. The majority of bids were for the 91-day bill, with GHS3.825 billion tendered and accepted.

The 182-day bill attracted GHS822.39 million, and the 364-day bill received GHS272.62 million in bids, with all bids accepted for both maturities.

Despite the oversubscription, interest rates continued to decline. The yield on the 91-day T-bill decreased by approximately 25 basis points to 25.0%.

The interest rate for the 182-day bill also dropped to 26.99%, down from the previous week’s 27.39%.

However, the yield on the 364-day bill remained relatively unchanged at 27.99%.

Source: Ghana Web