Ghana Treasury Bill Auction Records 7.5% Oversubscription — MyJoyOnline

Ghana recorded a 7.5% oversubscription at a treasury bill auction. According to MyJoyOnline, which cites the results of the Bank of Ghana auction, the target amount was 2.75 billion Ghanaian cedis. The outlet notes that submitted bids amounted to about 2.9 billion cedis, while the government accepted bids worth approximately 2.8 billion cedis.

Bids by maturity

The strongest demand was for 91-day treasury bills: bids for them amounted to 2.075 billion cedis, or 75% of all bids, according to the outlet. The accepted amount for these securities was 1.879 billion cedis.

For 182-day bills, investors submitted bids worth 702.95 million cedis, of which 520.57 million cedis were accepted. For 364-day securities, bids amounted to 876.72 million cedis, while accepted offers totaled 497.74 million cedis.

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The figures in the table for individual maturities do not correspond to the total volumes of bids and accepted offers stated in the text of the MyJoyOnline article.

Yield changes

The yield on 91-day bills remained unchanged at 4.69%. At the same time, the yield on 182-day securities fell by 11 basis points to 6.37%.

The yield on 364-day treasury bills also declined, from 9.98% to 9.83%.