June 14, 2024
P.O.Box 613ER Gombilla House, Lamashegu Market, Tamale, Northern Region

T-bills oversubscribed by 30%; govt secures GHS 3.5bn

The government surpassed its treasury bill target after it recorded a 30 percent oversubscription at last week’s auction.

In total, GHS 3.5 billion was secured despite a target of GHS 2.7 billion albeit at declining interest rates. Most of the bids came from the 91-day T-bills where about GHS 2.71 billion was accepted.

For the 182-day bill, GHS 608 million of the bids were tendered and the uptake was the same. The 364-day bill recorded bids worth GHS 201 million. All the bids were accepted.

Yields are still ranging between 25 and 27 percent on the treasury market. The yields on the three-month bill declined marginally to 25.03% from 25.10%.

That of the six months bill fell slightly from 26.95% to 26.92% whereas the one-year bill eased from 27.95% to 27.91%.

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