Investor demand for treasury bills continued to be low, as the government, for the third consecutive week, failed to meet its treasury bills target.
According to auction results by the Bank of Ghana, the government recorded nearly 20% undersubscription of the T-bills auction.
It got GH¢5.353 billion against a target of GH¢6.684 billion of the bids tendered. The uptake was GH¢2.762 billion.
About GH¢4.361 billion came from the 91-day bill, representing 81% of the total bids. The Treasury accepted GH¢2.093 billion.
For the 182-day bill, GH¢731.20 million were tendered. A little over GH¢513million were accepted.
About GH¢260 million were also tendered for the 364-day bill. The uptake was GH¢154.91 million.
Meanwhile, interest rates continued to plumet on the yield curve.
The yield on the 91-day bill declined marginally by 6.0 basis points to 15.10%.
That of the 182-day also eased to 15.68% from 15.70% the prior week.
The interest on the 364-day bill also went down by 2.0 basis points to 16.78%.
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