The government's auction of treasury bills encountered a marginal deficit against the target due to the ongoing surge in interest rates within the money market.
As per the data released by the Bank of Ghana, the government secured ¢2.179 billion, slightly below the intended target of ¢2.261 billion.
The auction of T-bills resulted in a 3.6% shortfall from the set target.
Notably, a significant portion of bids, approximately ¢1.384 billion, were received for the 91-day bill, all of which were accepted by the Treasury.
For the 182-day bill, bids totalling around ¢649.39 million were tendered, all of which were accepted.
However, the sale of the 364-day bill yielded about ¢145.02 million.
Against the backdrop of these developments, interest rates on the money market continued to rise, albeit with a slight increase.
The auction outcomes indicated that the 91-day yield climbed to 25.57%, compared to the preceding 25.24%.
Similarly, the 182-day bill's yield saw a 0.14% rise, reaching 27.28%.
Additionally, the one-year bill experienced a slight uptick to 30.49%, up from the previous week's rate of 30.30%.
