Ghana's latest treasury bill auction surpasses target, raises GH¢3.34 billion

The Ghanaian government has raised GH¢3.34 billion in the latest treasury bill auction, exceeding its target by GH¢100 million.

This development comes amidst a downward trend in interest rates within the money market.

The Bank of Ghana's auction results revealed robust investor interest, particularly in the 91-day treasury bill, which attracted bids amounting to GH¢2.51 billion, with the government accepting the entire sum.

Additionally, bids for the 182-day bill totalled GH¢651.11 million, and those for the 364-day bill reached GH¢182.68 million, both of which were fully accepted by the government.

Overall, the auction closed with a 3% surplus in sales compared to the initial target, with interest rates averaging between 21% and 23%.

Market analysts interpret the competitive weighted average rates as a sign of strong investor confidence in the nation's government securities.

ID/MA