The government recorded another marginal oversubscription of treasury bills but at the expense of rising interest rates.
According to auction results from the Bank of Ghana, the government bagged GH¢4.078 billion as against a target of GH¢4.01 billion.
All the bids tendered were oversubscribed.
About GH¢3.32 billion representing 82.97% came from the 91-day bill.
A little over GH¢549.96 million were offered for the 182-day bill.
However, GH¢200.78 million were tendered for the 364-day bill.
The securities will be issued today November 4, 2024.
Meanwhile, interest rates continued to rise on the yield curve.
The yield on the 91-day bill went up by 37 basis points to 26.56%.
That of the 182-day bill was 27.58% as against 27.29% the previous week.
The rate on the 364-day bill was however up by 6.0 basis points to 28.97%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 3.327 billion | 3.327 billion |
| 182 Day Bill | 549.96 million | 549.96 million |
| 364 Day Bill | 200.78 million | 200.78 million |
| Total | 4.078 billion | 4.078 billion |
| Target | 4.010 billion | |
Source:myjoyonline.com
