The government has exceeded its Treasury bill target by GHS 550 million, according to the latest auction results released by the Bank of Ghana.
Against a target of GHS 6.14 billion, total bids amounted to GHS 7.26 billion, although GHS 570.64 million in bids were rejected.
Data from the auction showed that for the 91-day bill, GHS 5.32 billion was tendered with GHS 5.21 billion accepted; the 182-day bill attracted GHS 1.56 billion in bids, of which GHS 1.29 billion was accepted; and for the 364-day bill, GHS 381 million was tendered with GHS 192 million accepted.
Meanwhile, interest rates across the yield curve remained relatively stable but continued to decline, reflecting government efforts to lower borrowing costs.
The yield on the 91-day bill edged down to 15.32% from 15.45% the previous week, while the 182-day bill fell to 16.03% from 16.18%.
The 364-day bill also dropped to 18.37% from 18.62%. As part of its financing strategy, the Treasury plans to raise GHS 6.32 billion in its next auction.
