T-Bill is oversubscribed, gov’t raises $1.5 billion above target

Data from the Bank of Ghana, the latest Treasury bill auction has recorded an oversubscription of GH¢1.51 billion above its target.

The Bank of Ghana reports that investors submitted bids worth GH¢9.10 billion across the 91-day, 182-day, and 364-day Treasury bills, with GH¢9.08 billion being accepted.

This resulted in an excess demand of 29.41%, marking the seventh consecutive auction where demand has surpassed the government’s target.

The data further indicates that the 91-day Treasury bill was the most attractive instrument, attracting bids worth GH¢6.54 billion, with almost the entire amount (GH¢6.53 billion) being accepted.

The 182-day bill received bids worth GH¢1.06 billion, with GH¢1.05 billion taken up, while the 364-day bill garnered bids worth GH¢1.50 billion, with GH¢1.49 billion accepted.

According to the data, the 91-day bill increasing by 6 basis points to 11.17% from 11.11%, and the 182-day bill rising by 6 basis points to 12.56%. 554Conversely, the 364-day bill eased marginally by 3 basis points to 12.90% from 12.93%.

By: Rainbowradioonline.com/Ghana