Demand for treasury bills in Ghana falls short of target — MyJoyOnline
The Ghanaian government failed to reach its target fundraising volume at a treasury bills auction: bids worth 3.956 billion Ghanaian cedis were submitted against a target of 4.121 billion cedis. MyJoyOnline reports on the auction results released by the Bank of Ghana.
Demand for short-term bills
The largest volume of bids was for 91-day bills — 2.28 billion cedis, or 57.8% of the total value of submitted bids. According to the auction results table, bids worth 1.87 billion cedis were accepted for these securities.
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Investors submitted bids worth 452.79 million cedis for 182-day bills, of which 224.96 million cedis were accepted. The volume of bids for 364-day securities amounted to 1.214 billion cedis, while 110.52 million cedis were accepted.
Change in yields
The yield on 91-day treasury bills remained at 4.69%. At the same time, the yield on 182-day securities fell by 3 basis points to 6.48%. For 364-day bills, the figure declined to 9.98%, compared with 10.10% a week earlier.
