Government’s latest Treasury bill auction recorded strong investor demand, with total bids reaching GHC10.034 billion against a target of GHC5.669 billion.
To balance its financing needs with borrowing costs, government accepted GHC7.383 billion, rejecting about 26.4% of the bids. The auction recorded a subscription rate of 177%, an oversubscription rate of 77%, and an acceptance rate of 73.58%.
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Yields on the 91-day and 182-day Treasury bills each declined by one basis point from the previous auction, reflecting strong liquidity and investor demand for short-term securities. However, the yield on the 364-day bill rose to 12.99% as investors sought higher returns for longer-term investments.
The 91-day bill attracted GHC2.981 billion in bids, with government accepting GHC1.796 billion at a yield of 5.86%.
The 182-day bill received GHC1.398 billion in bids, of which GHC1.057 billion was accepted at a yield of 7.78%.
The 364-day bill attracted the highest demand, recording GHC5.654 billion in bids, making it the most subscribed security in the auction.
