T-bills auction: Government fails to meet target for 6th consecutive week
The government failed to meet its treasury bills target for the sixth week running.
According to the T-bills auction published by the Bank of Ghana, the government missed the target by 6.91%.
The government got GH¢ 4.624 billion from the sale of the T-bills. The target for the auction was GH¢4.96 billion.
GH¢3.606 billion, representing 77.97% came from the 91-day T-bills. The uptake was GH¢3.606 billion.
The 182-day T-bills saw bids worth GH¢ 733.59 million tendered. All were accepted.
For the 364-day T-bill, GH¢284.92 million were tendered and all were accepted.
Meanwhile, interest rates were mixed on the money market.
Whilst the yield on the 91-day bill went up that of the 182-day and 364-day bill fell marginally.
The yield on the 91-day bill was 24.843% from the previous week’s 24.825%. However, that of the 182-day bill was 26.746%, lower than the preceding week’s 26.764%.
Similarly, the rate on the 364-day bill was 27.850% from the 27.857% recorded a week ago.
| SECURITIES | BIDS TENDERED (GH¢) | BID ACCEPTED (GH¢) |
| 91 Day Bill | 3.606 billion | 3.606 billion |
| 182 Day Bill | 733.59 million | 733.59 million |
| 364 Day Bill | 284.92 million | 284.92 million |
| Total | 4.624.63 billion | 4624.63 billion |
| Target | 4.968 billion | |
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