The government in its next auction for Friday, June 21, 2024, is hoping to raise some GH¢3.5bn. The targeted amount is 27.45% less than the GH¢4.9bn debt issued in the previous week’s auction.
The upcoming GH¢3.5bn debt auction via the 91, 182, and 364-Day bills will be used to partly cover upcoming maturities valued at GH¢3.35 billion.
In last week’s auction, the Treasury’s auction target of GH¢4.9 billion received GH¢66.41 million worth of bids below the target.
Market demand for the week’s treasury bills amounted to GH¢4.83 billion, with a 100% acceptance of all bids tendered.
The 91-day Bill garnered the most subscriptions among the three tenors, followed by the 182-Day Bill and the 364-Day Bill.
Bids amounting to GH¢3.76 billion, GH¢924 million, and GH¢142 million were accepted for the 91-Day, 182-Day, and 364-Day tenors, respectively.
Yields resumed the decline in previous weeks with declines of 67 bps, 41bps, and 39bps in the 91-Day, 182-Day, and 364-Day bills recorded to bring average rates to 24.87%, 26.83%, and 27.82% respectively.