The demand for treasury bills continued to surge despite declining yields.
According to auction results by the Bank of Ghana, the government recorded a 43.85% percent oversubscription of T-bills.
The government got GH¢10.559 billion from the sale of the short-term instruments.
It however accepted GH¢7.650 billion.
A little above GH¢6.1 billion cedis came from the 91-day T-bills. This represented about 58% of the total bids.
The Treasury accepted GH¢3.87 billion.
For the 182-day bill, GH¢4.419 billion were tendered. About GH¢3.7 billion were accepted.
There were no bids for the 364-day bill.
Meanwhile, interest rates declined for the second-week running.
The yield on the 91-day bill went down by 43 basis points to 27.98%.
That of the 182-day also dropped to 28.68% from the previous 28.89%.
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