The government failed to meet its treasury bill target for the second week running.
According to the auction results by the Bank of Ghana, the Treasury got GH¢5.471 billion of the total bids tendered, but rejected GH¢1.095 billion of the bids from the investors.
Once again, a chunk of the bids came from the 91-day bill, where GH¢3.507 billion, representing 64.07% of the total bids, were tendered.
For the 182-day bill, GH¢1.806 billion was received. However, the uptake was GH¢1.674 billion.
The bids tendered for the 364-day bill were estimated at GH¢157.18 million. Only GH¢ 48.44 million were accepted.
Meanwhile, interest rates fell with respect to the 182-day and 364-day bills as the government intensified its strategy of keeping rates lower.
However, that of the 91-day bill remained unchanged at 14.79%.
The yield on the 182-day three basis points went down to 15.45%%.
The 364-day bill also dropped by 12 basis points to 15.71%.
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