T-bills auction: Government records marginal oversubscription; but interest rates rise

The Ghanaian government recorded a marginal oversubscription in treasury bill sales, raising GH¢4.614 billion, 1.08% more than the GH¢4.565 billion target.

This came after three weeks of missing targets and followed the IMF’s approval of the third review of Ghana's Economic Facility Programme.

The 91-day bill accounted for 84% of the bids, with GH¢3.88 billion tendered. The 182-day bill attracted GH¢500.68 million, while GH¢225.96 million was received for the 364-day bill.

Interest rates slightly increased, with the 91-day and 182-day bills rising, but the 364-day bill's rate declined by 7 basis points to 28.58%.

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