Investors made bids worth GHS 20.49 billion for the Government’s short-term debt instruments in last Friday’s T-Bill auction.
The bids were an overwhelming 165% oversubscription of the GHS 7.72 billion auction target set by the Government.
Of the GHS 20.49 billion bids submitted by primary dealers for the short-term debt instruments, the Government rejected bids worth GHS 10.86 billion.
The Government accepted bids worth GHS 9.63 billion, GHS 1.90 billion more than the set auction target of GHS 7.72 billion.
Bids made for the 91-day and 182-day bill amounted to GHS 7.38 billion and GHS 5 billion respectively, of which GHS 4.23 billion and GHS 1.43 billion were accepted by the Government.
Bids submitted for the 364-day bill amounted to GHS 8.11 billion of which GHS 3.96 billion was accepted by the Government.
Interest rates on the short-term debt instruments witnessed reductions despite the oversubscription by investors.
Interest rates on the 91-day and 182-day T-Bills declined to 24.47% and 25.38% from the previous rates of 26.85% and 27.80% respectively.
The 364-day also ended the auction with a reduced interest rate of 27.29% from the previous rate of 29.07%.
Looking forward, the Government will be looking to raise GHS 6.49 billion in additional debt on Friday, February 28, 2025.
--Norvanreports--