For the 4^th week running, the government failed to meet its treasury bills target of GH¢7.5 billion.

According to the auction results by the Bank of Ghana, the government recorded 29.3% undersubscription of its auction target, higher than the previous week.

The government received about GH¢5.3 billion as against a target of a little over GH¢7.5 billion. It, however, accepted GH¢5.1 billion of the bids.

The 91-day bill was once again the most subscribed bill as GH¢4.43 billion of the bids were tendered, representing 83% of the total bids. The uptake was, however, GH¢4.42 billion.

For the 182-day bill, GH¢521.96 million of the bids were tendered. All the bids were accepted.

The 364-day bill recorded bids of about GH¢348 million. The uptake was GH¢162.59 million.

Meanwhile, interest rates continued to surge on the yield curve.

The yield on the 91-day bill increased by 10 basis points to 4.91%.

That of the 182-day bill also went up to 6.77% from the previous week’s 6.71%.

Similarly, the yield on the 364-day bill inched up by 13 basis points to 9.97%.

SECURITIES	BIDS TENDERED (GH¢)	BIDS ACCEPTED (GH¢)
91 Day Bill	4.43bn	4.42bn
182 Day Bill	521.96m	521.96m
364 Day Bill	348.94	162.59m

Total	5.34bn	5.11bn
Target	7.573bn

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T-bills: Government misses target, interest rates rising

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