GOVERNMENT SURPASSES TREASURY BILL TARGET BY GHC550 MILLION

The Government of Ghana has exceeded its treasury bill auction target by GHC550 million, according to data released by th Bank of Ghana.In the latest auction, the government set out to raise GHC6.14 billion but attracted total bids amounting to GHC7.26 billion. Out of this, GHC6.69 billion worth of bids were accepted, with the remaining GHC570.64 million rejected.

Breakibg down the accepted bids:

• For the 91-day bill,GHC5.32 billion was tendered, and GHC5.21 was accepted.
• For the 182-day bill, GHC1.56 billion was tendered,with GHC1.29 billion accepted.
• For the 364-day bill, GHC381 million was tendered, out of  which GHC192 million was accepted. 

Interest rates across all maturities continued to decline. The yield on the 91-day bill fell from 15.45% to 15.32%, the 182-day bill dropped from 16.18% to 16.03% nad the 364-day bill declined from 18.62% to 18.37%.

The downwards trend in interest rates suggest strong investor confidence and the government's commitment to lowering borrowing costs.Looking ahead, the government plans to raise GHC6.32billion in the upcoming treasury bill auction.