Government T-Bills Auction Exceeds Target as Bids Jump, Rates Rise

Investor interest in government treasuries shot up as total bids tendered exceeded the target by about 20.41%.

According to auction results by the Bank of Ghana, the total bids accepted were estimated at GH¢9.1 billion, higher than the targeted amount of GH¢7.5 billion.

A chunk of the bids came from the 91-day bill, with an estimated GH¢6.54 billion tendered. The uptake was GH¢6.53 billion.

For the 182-day bill, GH¢1.06 billion of the bids were tendered. The bids accepted were estimated to the tune of GH¢1.05 billion.

Similarly, GH¢1.50 billion of the bids were tendered for the 364-day bill. A little over GH¢1.4 billion of the bids were accepted.

Meanwhile, yields moved modestly, with the 91-day and 182-day bills rising.

The yield on the 91-day bill increased by a basis point to 11.17%.

That of the 182-day bill also went up to 12.61%, from 12.55% the previous week.

However, the yield on the 364-day bill declined by 3 basis points to 12.90%.

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