Government to raise GH¢4.551 billion from treasury bills this week
Treasury bills were undersubscribed in last week’s auction
The government is expected to raise GH¢4.551 billion from the 91-day, 182-day, and 365-day treasury bills on June 20, 2025.
The latest auction results from the Bank of Ghana (BoG) show that the government fell short of its treasury bills target by GH¢393 million, reflecting a 5.19% undersubscription.
The government had aimed to raise GH¢7.58 billion but received total bids of GH¢7.19 billion, marking a sharp drop compared to the selective acceptance recorded in previous auctions.
In this round, the government accepted nearly all available bids, particularly in the shorter tenors, likely in response to upcoming high maturities.
All GH¢6.02 billion tendered for the 91-day bill was accepted, along with the full GH¢995 million for the 182-day bill.
For the 364-day bill, GH¢173 million out of GH¢204 million in bids was accepted.
Meanwhile, interest rates continued to decline across the curve.
The 91-day rate dropped by 9 basis points to 14.70%, the 182-day rate fell by 21 basis points to 15.25%, and the 364-day rate eased by 6 basis points to 15.74%.
SSD/MA
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