Accra:The government raised GHS3.48 billion, falling short of its treasury bill target after accepting only part of the bids submitted by investors.
According to Ghana Web, Bank of Ghana auction figures indicated that investors offered GHS5.17 billion against a target of GHS5.02 billion. However, the Treasury only accepted GHS3.48 billion, leaving about GHS1.69 billion in bids unaccepted.
The 91-day bill attracted the highest demand, receiving bids worth GHS2.94 billion, with the Treasury accepting approximately GHS2.20 billion. Investors submitted GHS1.11 billion for the 182-day bill, of which the government accepted GHS692.30 million. For the 364-day bill, bids amounted to approximately GHS1.12 billion, with GHS587.61 million accepted.
The yield on the 91-day bill saw a slight increase to 4.62%, while the rate on the 182-day bill rose to 6.31% from 6.27% the previous week. However, the yield on the 364-day bill declined by four basis points to 9.71%. Despite investor offers exceeding the target, the amount the government borrowed was below its planned amount.