For its first auction of the year, the government recorded a significant oversubscription in its treasury bills auction on January 3, 2025.
The auction received total bids amounting to GH¢5.371.75 billion, exceeding the target of GH¢4.326 billion by GH¢1.045.75 billion.
According to results released on January 6, 2025, the Government secured GH¢3.531.54 billion or 91-day bill, accepted GH¢604.39 million for the 182-day bill, and GH¢1.235.82 million for the 365-day bill.
However, not all bids in this week’s auction were accepted.
The interest rates for the latest auction were set at 28.19% for 91-day bill, 28.91% for the 182-day bill, and 30.15% for 365-day bill.
Treasury bills have become the government’s primary source of borrowing due to its lack of access to the international capital market. Meanwhile, the government aims to borrow GH¢5.198 billion in the upcoming auction this week.
Source: GhanaWeb