Accra: Government fell short of its target in the latest Treasury bills auction, missing the mark by about GHS139 million as investor demand weakened.
According to Ghana Web, out of the total bids received, only GHS7.9 billion was accepted, representing an undersubscription of roughly 7.45%. The 91-day bill remained the most attractive to investors, with bids worth GHS6.15 billion, of which GHS5.88 billion was accepted. The interest rate on this tenor eased slightly, dropping by 11 basis points to 24.71%.
For the 182-day bill, investors tendered GHS2.06 billion, but the government accepted GHS1.63 billion. The interest rate also declined, falling by 6.28 basis points. Meanwhile, the 364-day bill recorded bids of GHS480.46 million, reflecting relatively softer demand compared to shorter maturities.
The government has set a target of GHS5 billion for its next auction, hoping to attract stronger investor participation.