The government has once again fallen short of its Treasury bill target, missing it by GH¢2.69 billion for the third week in a row after rejecting GH¢2.37 billion in bids, likely misaligned with its yield expectations.
According to the latest data from the Bank of Ghana (BoG), the government sought to raise GH¢4.39 billion from short-term debt instruments but received bids totalling GH¢1.69 billion, resulting in an undersubscription of 61.46%.Ghanaian fashion.
For the 91-day Treasury bill, GH¢3.38 billion was tendered, with GH¢1.45 billion accepted. The 182-day bill saw GH¢501.17 million tendered, but only GH¢81.09 million was accepted. Meanwhile, GH¢176.26 million was tendered for the 364-day bill, of which GH¢161.26 million was accepted.
Interest rates on Treasury bills continue to trend between 15% and 18%. The 91-day yield declined by six basis points to 15.65%, while the 182-day bill fell by 23 basis points to 16.50%. The 364-day bill dipped by two basis points to 18.83%.
Source:Mybrytfmonline.com
