T-bills auction: Government records 41% oversubscription; but yield on 91-day bill increases
The government exceeded its treasury bills target by 41% to GH¢5.01 billion, according to the Bank of Ghana auction results.
This follows the government borrowing of about GH¢14 billion through short-term instruments in October 2026.
The bids accepted by the government were GH¢4.10 billion, higher than the targeted amount.
A little over GH¢3.0 billion of the bids came from the 91-day bill, representing 59% of the total bids. The uptake was about GH¢2.9 billion.
The 182-day bill also received bids of about GH¢1.6 billion. However, GH¢934.50 million was accepted.
About GH¢388 million of the bids were tendered for the 182-day bill. A little above GH¢243.15 million of the bids were accepted.
Meanwhile, interest rates were mixed along the yield curve.
The yield on the 91-day bill went up by 2.0 basis points to 4.56%.
However, the 182-day bill declined to 6.20% from the preceding week’s 6.26%.
Also, the yield on the 364-day bill decreased by 12.0 basis points to 9.48%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 3.004bn | 2.929bn |
| 182 Day Bill | 1.619bn | 934.50m |
| 364 Day Bill | 388.45m | 243.15m |
| Total | 5011.96bn | 4106.65bn |
| Target | 3.543bn |
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