Ghana raises 51.6% more than target at Treasury bill auction — MyJoyOnline
The Government of Ghana received bids worth 9.937 billion Ghanaian cedis at a Treasury bill auction, 51.6% above the target of 6.554 billion cedis. At the same time, bids worth 8.381 billion cedis were accepted, MyJoyOnline reports, citing the results of the Bank of Ghana auction.
Most bids were for 91-day bills
The largest volume of bids was submitted for 91-day bills — 6.225 billion cedis, or 62.6% of the total volume. Bids worth 5.835 billion cedis were accepted. According to the outlet, for the first time in several months, 91-day bills accounted for the largest volume of submitted bids.
Bids worth 1.915 billion cedis were submitted for 182-day bills, of which 1.593 billion cedis were accepted. The volume of bids for 364-day securities amounted to 1.796 billion cedis, while 952.77 million cedis were accepted.
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Bill yields declined
The yield on 91-day bills fell by 14 basis points to 4.80%. The yield on 182-day securities declined from 6.87% the previous week to 6.67%.
The yield on 364-day Treasury bills decreased by 66 basis points to 10.11%.
