T-Bills over subscribed by GH¢799 million —Govt targets GH¢3.26bn this week
The 91, 182, and 364-day treasury bills auctioned by the government last week was over subscribed by GHc 799 million, despite a marginal drop in the interest rates.
The auction saw the government accepting bids totaling GHc3.9 billion against a target of GHc3.1 billion.
A total of GHc3.24 billion and GHc410m bids were tendered for the 91 day and 182 day with the government accepting bids amounting to GHc3.14 billion and GHc409 million respectively.
For the 364-day bill, a total of GHc353 million was tendered with the government accepting bids worth GHc348 million.
The interest rates on the government instruments also saw a marginal drop, with interest on the 91- day bills dropping by 0.1% to 29.8% and that of the 182-day also dropping by 0.3% to 31.8%. Interest on the 365-day bill also dropped by 0.3% to 33.4%.
This week, the government intends to raise GHc3.26 billion on the treasury bill market to finance its activities.