Investors continue to show strong interest in Ghana’s Treasury bills, with bids reaching GH¢12.3 billion in the latest auction.

The government had planned to raise GH¢5.15 billion but received more than twice that amount in bids. It eventually accepted GH¢6.52 billion.

The 364-day Treasury bill attracted the most interest, receiving GH¢7.5 billion in bids, representing about 61% of all bids submitted.

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The government accepted GH¢2.75 billion from the 364-day bill.

The 91-day bill also attracted strong demand, with investors submitting GH¢3.55 billion in bids. The government accepted GH¢2.84 billion.

For the 182-day bill, investors submitted GH¢1.28 billion, of which GH¢935.22 million was accepted.

Despite the strong demand, yields on some Treasury bills continued to fall.

The yield on the 182-day bill dropped to 6.87% from 7.08%, while the yield on the 364-day bill fell sharply to 10.77% from 11.59% in the previous auction. Bank of Ghana data confirms the general decline in yields on the longer-term bills.

The 91-day bill was the exception, with its yield rising slightly to 4.94%.

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The latest auction shows that investors remain willing to commit significant amounts of money to government securities, even as returns on some Treasury bills continue to decline.

The strong demand for the 364-day bill also suggests that many investors still prefer to lock in their funds for a longer period, as the bill offers higher returns than the shorter-term instruments.

DR/MA

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