Josiah
The government successfully achieved an oversubscription of approximately 9.0% in its treasury bills sale, just a week after experiencing a slight undersubscription.
The total amount raised was GH¢4.65 billion, surpassing the target of GH¢4.262 billion.
All bids submitted for the short-term instruments were accepted.
The majority of the bids came from the 91-day bill, which received GH¢3.83 billion, representing 82.6% of the total bids. The 182-day bill attracted about GH¢628 million, while the 364-day bill garnered GH¢179.37 million in bids.
Interest rates for the treasury bills reached 30%, with the rate for the 91-day bill rising by 18 basis points to 28.03%. Similarly, the rate for the 182-day bill increased to 28.68%, up from 28.57% the previous week.
Investor demand for the T-bills also saw a 27.2% month-on-month increase in November 2024, although it was still not enough to fully meet the high auction target for the month.
The yield on the 364-day bill rose to 30.07%, up from 29.95% the week before.
Source:Omanghana.com
