Liquidity on the money market remained tight as the government missed its treasury bill target by GH¢252.72 million.
According to auction results from the Bank of Ghana, the government got GH¢4.468 billion from the T-bills auction.
All the bids tendered were accepted.
About GH¢3.54 billion were received for the 91-day bill, representing 73.9% of the total bids.
With regard to the 182-day bill, GH¢782 million were mobilised. This constituted 16.33% of the total bids.
Also, GH¢165.3 million was gotten for the one-year bill.
Meanwhile, interest rates remained unchanged from the previous week.
The yield on the 91-day bill stood at 24.78%.
That of the 182-day bill was 26.74%.
The rate on the 364-day bill was also 27.78%.
In July 2024, the government requires an average weekly bid of GH¢3.5 billion to refinance maturing treasury bills.
Investors will however continue to favour the shorter end of the yield curve.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS SUBMITTED (GH¢) |
| 91 Day Bill | 3.540 billion | 3.540 billion |
| 182 Day Bill | 782.00 million | 782.00 million |
| 364 Day Bill | 165.3 million | 165.3 million |
| Total | 4.788 billion | 4.788 billion |
| Target | 4.721 billion | |
Source:theghanareport.com