Ghana’s government recorded an oversubscription of its treasury bills sales by about 15% after lowering its target amount to GH¢2.08 billion.
The Bank of Ghana data showed that the government received GH¢2.4 billion from investors for the 91-day and 182-day T-bills.
Most of the bids came from the 91-day bill, which attracted GH¢1.59 billion. The government accepted almost all of them. The 182-day bill also received GH¢816 million in bids, which were all accepted by the government.
However, interest rates on the money market increased. The 91-day T-bill rose by 0.36% to 21.15%, while the 182-day T-bill climbed to 23.93%, from 23.62% a week ago.