Government has mobilised GHS 8.2 billion through its latest treasury bill (T-Bill) issuance, surpassing its target of GHS 6.8 billion by GHS 1.35 billion.
This marks a significant recovery following four consecutive weeks of undersubscription in T-Bill demand, culminating in a marginal oversubscription of 19.8 percentage points.
According to the latest data from the Bank of Ghana, this increase in investor appetite for government debt instruments in the primary market indicates a robust interest from investors, who tendered an impressive GHS 6.7 billion in 91-day bills. Additionally, bids for the 182-day bill amounted to approximately GHS 951 million, while the 364-day bills attracted GHS 508 million.
However, this surge in demand comes amidst rising yields on treasury bills, with interest rates averaging between 27% and 29%.
Specifically, the yield on the 91-day bill increased by 17 basis points to reach 27.77%, while the 182-day bill rose to 28.49%, reflecting an increase of 18 basis points.
The yield on the 364-day bill also saw a rise, climbing by 4 basis points to 29.94%.
Government is however seeking to raise 5.46 billion Ghana cedis in its next auction.
