Demand for Treasury bills in Ghana exceeded target by 2.8%
In Ghana, the volume of bids at an auction of short-term Treasury bills exceeded the target by 2.8%. The total value of submitted bids amounted to about 8.1 billion Ghanaian cedis, while the auction target was set at 7.9 billion cedis.
Accepted bids
The government accepted bids worth 7.2 billion cedis, MyJoyOnline reports, citing the results of the Bank of Ghana auction. The largest volume of bids was submitted for 91-day bills — 4.56 billion cedis, or 55% of the total volume. The accepted amount for these securities was 4.52 billion cedis.
For 182-day bills, bids worth 2.07 billion cedis were submitted, of which 1.81 billion cedis were accepted. Bids worth 1.56 billion cedis were submitted for 364-day bills, while the accepted volume amounted to 867.93 million cedis.
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Changes in yields
The yield on 91-day Treasury bills declined by 11 basis points to 4.69%. The yield on 182-day securities fell from 6.67% the previous week to 6.51%.
The yield on the bill referred to in the source text as a 354-day bill also declined by one basis point, to 10.10%. At the same time, MyJoyOnline lists 364-day bills in its auction results table.
