T-Bill sees 94% acceptance rate in recent auction

The Bank of Ghana’s recent Treasury bills auction, valued at GH¢2,152.00 million, saw a remarkable oversubscription by 33.02%.

Bids worth GH¢2,033.84 million, GH¢517.49 million, and GH¢311.21 million were successful for the 91-Day, 182-Day, and 364-Day tenors, respectively.

Out of the total bids tendered, which amounted to GH¢2,862.54 million, an impressive 94.09% were accepted during this auction, underscoring the robust demand for these financial instruments.

Among the various tenors offered, the 91-Day bill received the highest subscriptions, followed by the 182-Day bill, and then the 364-Day bills. Investors seemed to favor the shorter-term options.

The 91-Day bill closed at an average of 29.97%, coming remarkably close to the 30.00% threshold, a level last seen in February this year. Meanwhile, the 182-Day bill averaged 32.15%, and the 364-Day bill recorded a 28 basis point (bps) increase to close at an average of 33.70%.

In the next auction, the treasury aims to raise GH¢3,105.00 million through the issuance of 91-Day, 182-Day, and 364-Day bills. This move reflects the continued demand for government securities and the need for capital to fund fiscal activities.