Bids tendered in by primary dealers for the Government’s short-term debt instruments last Friday, February 7, totalled GH¢10.5 billion.
Of the total amount, some GH¢7.65 billion was accepted by the Treasury, rejecting bids totalling GH¢2.9 billion.
The accepted GH¢7.65 billion bids were GH¢392 million higher than the targeted GH¢7.25 billion.
The GHS 7.65 billion bids accepted by the treasury in the 91-day and 182-day debt instruments were lower than the anticipated GH¢8.36 billion maturities to be settled by the Government.
Yield on the 91-day and 182-day T-Bills declined by 43 basis points and 21 basis points respectively as the Treasury moved to reduce the high interest rates on the short-term debt instruments.
The 91-day and 182-day T-Bills ended the auction at 28.1% and 28.87% respectively.
In the next auction scheduled for February 14, 2025, the Government will be aiming to raise some GH¢8.06 billion to settle maturing bills worth GH¢7.5 billion.
Norvan Reports