The government failed to meet its treasury bills target after registering an undersubscription a week before.
According to the auction results by the Bank of Ghana, the government registered a 16% undersubscription of the sale of the short-term instruments.
It got GH¢5.292 billion from the T-bills auction, but rejected GH¢563.38 million of the bids tendered.
About GH¢2.985 billion came from the 91-day bill, representing 56.38% of the total bids. All the bids accepted were accepted.
For the 182-day bill, GH¢869 million were tendered. The uptake was GH¢668.54 million.
A little over GH¢1.438 billion were also tendered for the 364-day bill. About GH¢1.075 billion of the bids were accepted.
Meanwhile, interest rates continued to fall on the yield curve. The yield on the 91-day bill declined by 12 basis points to 15.23%.
That of the 182-day also eased to 15.77% from 16.03% the previous week.
The interest on the 364-day bill also dropped by a whopping 1.42 percentage points to 16.95%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 2.985bn | 2.985bn |
| 182 Day Bill | 869.04m | 668.54m |
| 364 Day Bill | 1.438bn | 1.075bn |
| Total | 5.292bn | 4.729bn |
| Target | 6.323bn |
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