Ghana treasury bills see 162% oversubscription

Ghana’s recent treasury-bill auction saw a 162% oversubscription, with the government accepting approximately GH¢5.8 billion from total bids. Investors showed the strongest demand for the 364-day instrument, which received GH¢9.9 billion in bids—representing 183% of the available amount—though the government accepted only GH¢2.6 billion of those bids.

Interest rates showed a downward trend along the yield curve. The yield on the 91-day bill rose by 39 basis points to 5.07%, while the 182-day bill yield fell from 7.27% to 7.08%. The 364-day bill yield increased by 91 basis points to 11.59%.

Other auction details include the 182-day bill receiving GH¢1.2 billion in bids with GH¢766 million accepted, and the 91-day bill receiving GH¢3.1 billion in bids with just over GH¢2.4 billion accepted.