Investor interest in government treasuries continued to surge, as the government exceeded its target by 41%.
According to auction results by the Bank of Ghana, the total bids accepted were estimated at GH¢10.05 billion cedis, higher than the targeted amount of GH¢7.14 billion.
Interestingly, investors bid more for the 364-day bill than the 91-day and 182-day bills.
An estimated GH¢4.61 billion was tendered by the investor for the 364-day bill, representing 45.7% of the total bids. However, GH¢4.61 billion of the bids were accepted.
For the 91-day bill, GH¢2.75 billion of the bids were tendered. The uptake was GH¢2.74 billion.
The 182-day bill saw an estimated GH¢2.71 billion of the bids tendered. The bids accepted were a little over GH¢2.70 billion.
Meanwhile, interest rates continued to edge up on the yield curve.
The yield on the 91-day bill increased by 2.0 basis points to 11.19%.
That of the 182-day bill also went up to 12.64%, from 12.61% the previous week.
The yield on the 364-day bill also shot up by 8.0 basis points to 12.98%.
