Gov’t Seeks GHS 5.3 Billion to Cover GHS 2.62 Billion Maturities in Upcoming T-Bill Auction

The Government is planning to raise GH¢5.31 billion in its upcoming treasury bill auction on Friday, representing a 7.07% increase over last week’s target.

This auction will include the 91-Day, 182-Day, and 364-Day bills, with a portion of the funds to cover upcoming maturities amounting to GH¢2.62 billion.

In last week’s auction, the central bank aimed to raise GH¢4.96 billion but fell short, with market demand reaching GH¢4.62 billion—GH¢343.37 million below the target.

 

Despite this shortfall, all bids tendered were accepted. Among the tenors, the 91-Day bill received the highest level of subscriptions, followed by the 182-Day and 364-Day bills.

Specifically, GH¢3.60 billion, GH¢733 million, and GH¢284 million were accepted for the 91-Day, 182-Day, and 364-Day bills, respectively.

The average yield on the 91-Day bill increased by 1 basis point (bp) to 24.84%, while the yields on the 182-Day and 364-Day bills each dipped slightly by 1 bp, settling at 26.75% and 27.85%, respectively.

Source:norvanreports.com