The government has recorded a fourth consecutive oversubscription at its weekly treasury bills auction, highlighting strong and sustained investor demand for short-term government securities.
The auction had a target of GH¢3.7 billion, but total bids reached GH¢5.6 billion—an oversubscription of nearly 48 percent. Out of the total bids submitted, the government accepted GH¢5.3 billion.
The 91-day bill attracted the largest share of interest, accounting for just over 45 percent of total bids, with GH¢2.5 billion tendered. The government accepted GH¢2.3 billion of this amount.
For the 182-day bill, investors submitted bids worth GH¢1.52 billion, of which about GH¢1.45 billion was accepted.
The 364-day bill recorded GH¢1.538 billion in bids, almost all of which were taken up, with GH¢1.533 billion accepted.
Meanwhile, interest rates declined across all tenors, reflecting easing borrowing costs and strong demand at the auction.
The yield on the 91-day bill fell by 3 basis points to 11.08 percent, while the 182-day bill eased slightly to 12.43 percent from 12.54 percent the previous week.
The most pronounced drop was recorded on the 364-day bill, where yields declined by 17 basis points to 12.91 percent.
Market analysts attribute the sustained oversubscription and falling yields to improved liquidity conditions and rising investor confidence, supported by expectations of continued macroeconomic stability.
