Accra: Government recorded strong investor interest in its latest Treasury bill auction, with bids reaching GHS11.2 billion, nearly 88% above the target of GHS5.99 billion.
According to Ghana Web, this was contained in the auction results from the Bank of Ghana. Despite the high demand, government accepted only GHS4.88 billion of the bids. The 91-day bill was the most sought after, attracting GHS5.07 billion in bids, of which GHS4.07 billion was accepted.
The 182-day bill received GHS1.28 billion in bids, with GHS526.44 million accepted, while the 364-day bill drew GHS4.93 billion in bids but saw just GHS289.70 million taken up.
Meanwhile, interest rates on all three maturities declined. The 91-day bill fell by 16 basis points to 5.46%, the 182-day bill dropped from 7.57% to 7.27%, and the 364-day bill recorded the sharpest fall, down 48 basis points to 12.50%.
The strong demand, despite lower yields, suggests that investors continue to show interest in government securities, even as the rates offered decline.