The Bank of Ghana released the results of the latest treasury bill auction, showing that the government achieved a 7.5% oversubscription, slightly surpassing its target. The auction attracted GH¢2.9 billion in bids, while the government accepted GH¢2.8 billion, against a target of GH¢2.75 billion.
The 91‑day bill was the most subscribed, with GH¢2.07 billion tendered—about 75% of total bids—yet only GH¢1.8 billion was accepted. The 182‑day bill saw GH¢702.95 million in bids, with GH¢520 million accepted. The 364‑day bill attracted GH¢876 million in bids, of which GH¢497 million were accepted.
Yield movements varied across the curve. The 91‑day bill’s yield remained unchanged at 4.69%. The 182‑day bill’s yield fell by 11 basis points to 6.37%, while the 364‑day bill’s yield dropped from 9.98% to 9.83%.
These figures suggest continued investor interest in short‑term government debt, though acceptance rates indicate a cautious approach to longer maturities.
