The government failed to meet its treasury bills target after registering an undersubscription a week before.
According to the auction results by the Bank of Ghana, the government registered a 16% undersubscription of the sale of the short-term instruments.
It got GH¢5.292 billion from the T-bills auction, but rejected GH¢563.38 million of the bids tendered.
About GH¢2.985 billion came from the 91-day bill, representing 56.38% of the total bids. All the bids accepted were accepted.
For the 182-day bill, GH¢869 million were tendered. The uptake was GH¢668.54 million.
A little over GH¢1.438 billion were also tendered for the 364-day bill. About GH¢1.075 billion of the bids were accepted.
Meanwhile, interest rates continued to fall on the yield curve. The yield on the 91-day bill declined by 12 basis points to 15.23%.
That of the 182-day also eased to 15.77% from 16.03% the previous week.
The interest on the 364-day bill also dropped by a whopping 1.42 percentage points to 16.95%.SECURITIESBIDS TENDERED (GH¢)BIDS ACCEPTED (GH¢)91 Day Bill2.985bn2.985bn182 Day Bill869.04m668.54m364 Day Bill1.438bn1.075bnTotal5.292bn4.729bnTarget6.323bn
