The government narrowly missed its treasury bill (T-Bill) borrowing target in the latest auction, despite a modest recovery in investor participation.
According to the Bank of Ghana’s auction results, the government sought to raise GH¢6.6 billion but received total bids of GH¢6.4 billion—representing 97.5% of the target.
Of the total bids, GH¢4.6 billion was accepted, with GH¢1.8 billion rejected. The accepted bids amounted to 70.08% of the government’s initial target.
Recent market activity points to fluctuating investor confidence, even as interest rates on short-term securities remain relatively stable.
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The 91-day bill held steady at 15.45%.
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The 182-day bill dipped slightly to 16.18%, from 16.21% the previous week.
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The 364-day bill also declined by 3 basis points to 18.62%.
The gradual drop in treasury bill rates aligns with the government’s broader objective of reducing the cost of domestic borrowing.
