Treasury bills: Government records 98% oversubscription in last auction

Results from the weekly auction by the Bank of Ghana showed that interest has started declining slightly.

The interest rate for the 91-day bills was 34.92%, the 182-day bill was sold at 36.03% and the 365-day bill stood at 36.10%.

According to data from the Bank of Ghana, the government secured a 98.1% oversubscription of its target Treasury bills sale that was held on December 16, 2022.

The 91-day bill accepted GH¢2,393.02 million bids, the 182-day bill accepted GH¢691.43, and the 364-day bill accepted GH¢586.83 million bids.

For the 91-day, 182-day, and 365-day bills, a total of GH¢3971.28 million was accepted.

For three weeks running the treasury bill market experienced marginal patronage after the announcement of a debt exchange programme.