The government recorded an oversubscription at its Treasury bill auction for the fifth week in a row.

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Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

The government has, for the fifth consecutive week, recorded an oversubscription at its Treasury bills auction, signalling sustained investor appetite for short-term government securities.

The auction target was GH¢3.3 billion, but total bids reached GH¢3.9 billion, translating into an oversubscription of about 16.6%. Out of the bids received, the government accepted GH¢3.8 billion.

The 91-day bill accounted for the largest share of demand, with bids totalling GH¢2.4 billion. The government accepted the full amount tendered.

For the 182-day bill, investors submitted bids worth GH¢781 million, of which about GH¢726 million were accepted.

The 364-day bill attracted GH¢686 million in bids, almost all of which were taken up, with GH¢686 million accepted.

Interest rates rose marginally across the yield curve, reflecting continued strong demand at the auction.

Source: newsthemegh.com