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T-bills: Govt records marginal oversubscription as yields fall

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The treasury bills market posted a marginal oversubscription after being undersubscribed the previous week.

According to the latest auction results from the Bank of Ghana, the government secured GHS 3.6 billion against a target of GHS 3.5 billion.

The almost two percent oversubscription of the T-bills occurred despite a fall in inflation and interest rates for the 182-day and 364-day bills.

The majority of bids were for the 91-day bills, with all GHS 2.76 billion tendered being accepted.

For the 182-day bill, GHS 660 million was tendered, with the uptake being the same.

GHS182 million was tendered for the one-year bill, and all were accepted.

On the yield curve, the rate for the three-month bill increased marginally to 24.86%, while the rates for the nine-month and one-year bills fell to 26.80% and 27.78%, respectively.

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