Investors place GH¢14.26 billion bids in Treasury bill auction

Investors have shown strong interest for government securities, submitting GH¢14.26 billion in bids at the latest Treasury bill auction. The amount represents a 162% oversubscription of the government’s GH¢5.42 billion target. Out of the total bids received, the government accepted GH¢5.85 billion. The 364-day Treasury bill attracted the bulk of investor interest, with GH¢9.93 billion in bids submitted. The government accepted GH¢2.68 billion of the amount. Middle East tensions cut Ghana’s reserves by $1.2bn - BoG Governor The 91-day bill received GH¢3.12 billion in bids, with GH¢2.40 billion accepted, while the 182-day bill attracted GH¢1.20 billion, of which GH¢766.21 million was accepted. The heavy demand for the 364-day bill reflects investors’ continued interest in longer-term securities, which offer relatively higher returns. The 91-day bill recorded a 39-basis-point increase in its yield to 5.07%. The yield on the 182-day bill, however, declined to 7.08% from 7.27% in the previous auction. Business‑driven approach needed for 24‑Hour Economy – COPEC Similarly, the 364-day bill saw its yield rise by 91 basis points to 11.59%. The latest auction indicates continued strong demand for government securities, despite movements in interest rates across the different maturities. DR/SA 'Deliberate attempt to undermine A-G' - Gyamfi jabs Afenyo-Markin over GoldBod claims Source: www.ghanaweb.com
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