By Jibril Abdul Mumuni
Accra, April 28, GNA – Government missed its Treasury bill target at Auction 2004, raising GH¢3.89 billion against a GH¢4.47 billion goal as relatively low yields curbed investor demand.
Investors showed limited interest at prevailing rates, with Government accepting fewer bids despite strong overall tenders across the short‑term securities market.
Data released by the Bank of Ghana showed total tenders of GH¢4.43 billion across the 91-day, 182-day and 364-day instruments, with a notable share rejected.
The 91-day bill drew GH¢2.75 billion in bids, of which GH¢2.71 billion was accepted. Discount rates allotted ranged between 4.50 and 4.9997 per cent, while the weighted average discount and interest rates were 4.8645 per cent and 4.9244 per cent, respectively.
For the 182-day tenor, GH¢717 million was tendered and GH¢664.37 million accepted, with the weighted average discount rate at 6.7287 per cent and the corresponding interest rate at 6.9630 per cent.
The 364-day bill saw GH¢960.08 million in bids, but only GH¢522.48 million was taken up. The weighted average discount and interest rates stood at 9.1932 per cent and 10.1239 per cent, respectively.
The central bank has set a higher target of GH¢5 billion for Auction 2005, signalling the potential for upward yield adjustments to bolster participation in upcoming issuances.
GNA
Edited by Kenneth Sackey