The government for the third week running, failed to meet its treasury bills target of GH¢4.63 billion.
According to the auction results by the Bank of Ghana, the government recorded 32.19 percent undersubscription of its auction target, higher than the previous week.
According to auction results, the government got GH¢3.16 billion as against a target of GH¢ 4.63 billion. It, however, accepted GH¢2.84 billion of the bids.
The most subscribed bill was the 91-day bill, as GH¢2.02 billion of the bids were tendered, representing 63.8 percent of the total bids. However, the uptake was GH¢1.99 billion.
The 364-day bill recorded bids of about GH¢648 million. The uptake was GH¢416.93 million.
For the 182-day bill, GH¢498.9 million of the bids were tendered. The bids accepted were GH¢416.9 million.
Meanwhile, interest rates continued to increase again on the yield curve.
The yield on the 91-day bill remained relatively unchanged at 4.81 percent.
That of the 182-day bill also went up to 6.71 percent from the previous week’s 6.62 percent.
Similarly, the yield on the 364-day bill inched up by 7.0 basis points to 9.84 percent.
