Investor demand for Government of Ghana treasuries exceeded expectations at the latest auction, with total bids tendered about 20.4% above the target, the Bank of Ghana’s results show.
The central bank accepted approximately GH¢9.1 billion in bids against a target of GH¢7.5 billion. Most interest was in the short-term paper: the 91-day bill drew GH¢6.54 billion in bids, with GH¢6.53 billion accepted. For the 182-day bill, bids of GH¢1.06 billion resulted in roughly GH¢1.05 billion being taken up. The 364-day bill attracted GH¢1.50 billion in offers, of which a little over GH¢1.4 billion was accepted.
Yields moved modestly. The 91-day bill rose by one basis point to 11.17%, while the 182-day increased to 12.61% (from 12.55% a week earlier). The 364-day yield fell by three basis points to 12.90%.
