The government exceeded its target of raising GHS 529 million in the issuance of the 91 and 182 days treasury bills on the fixed income market.
At last week’s auction, government in auctioning the short term debt instruments managed to secure GHS 826 million raising an additional GHS 297 million to its programmed auction target of GHS 529 million.
Accepted bids were below tendered bids as GHS 649 million was raised in the 91-day bills and GHS 276 million in the 182-day bills.
| BREAKDOWN OF TOTAL AMOUNT RAISED THIS WEEK | ||
| Treasuries | Bids Tendered (GH¢ MN) | Bids Accepted (GH¢ MN) |
| 91-Day T-Bill | 649.86 | 597.76 |
| 182-Day T-Bill | 276.65 | 229.77 |
| TOTAL | 926.51 | 827.53 |
Yields marginally moved up, reflecting current Inflationary pressures to settle at 25.88% and 26.57% for the 91-day bills and 182-day bills respectively.
The tight monetary policy stance by BoG to help control the price pressures is fuelling the rise in T-bill rates.
| RESULTS OF LAST WEEK’S TREASURY BILL AUCTION | |||
| GOG Treasuries | Current | Previous | Change |
| 91-Day T-Bills | 25.88% | 25.64% | 0.24% |
| 182-Day T-Bills | 26.57% | 26.40% | 0.17% |
Government’s target for the next auction is GHS 928 million in the 91- day bills,182-day bills and 364-day bills.
Source: norvanreports