The Government of Ghana has raised GH¢6.67 billion in its latest treasury bills auction, marginally exceeding its target, according to official data released by the Bank of Ghana.
The auction, which saw a modest oversubscription rate of 2.81%, surpassed the government’s target by GH¢66.21 million.
Despite the oversubscription, a total of GH¢121.7 million worth of bids were rejected.
The 91-day bill emerged as the most sought-after instrument, accounting for GH¢5.7 billion in bids — approximately 84.4% of total submissions. Of this, GH¢5.67 billion was accepted. The 182-day bill followed with GH¢908 million in bids, all of which were accepted.
The 364-day bill, while attracting the smallest volume at just over GH¢187 million, also saw full acceptance.
Yields across all tenors continued a gradual downward trend, signaling easing borrowing costs for the government.
The 91-day bill dropped by 20 basis points to 15.45%, the 182-day bill eased to 16.21% from a previous 16.50%, and the 364-day bill declined by 18 basis points to 18.65%.
