Ghana Treasury bill demand exceeds target by 2.8%
Ghana's recent Treasury bill auction saw demand exceed the government's target by 2.8%, with total bids reaching 8.1 billion cedis. Yields across 91-day, 182-day, and 364-day bills saw a slight decline following the auction results.
Why it matters
The oversubscription indicates investor appetite for Ghanaian government debt, providing insight into the country's current fiscal stability and monetary policy environment.
--> In Ghana, the volume of bids at an auction of short-term Treasury bills exceeded the target by 2.8%. The total value of submitted bids amounted to about 8.1 billion Ghanaian cedis, while the auction target was set at 7.9 billion cedis.
The government accepted bids worth 7.2 billion cedis, MyJoyOnline reports , citing the results of the Bank of Ghana auction. The largest volume of bids was submitted for 91-day bills — 4.56 billion cedis, or 55% of the total volume. The accepted amount for these securities was 4.52 billion cedis.
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