Government misses Treasury bill target by GHc800m in latest auction
Government fell short of its Treasury bill target in the latest auction, raising GH¢4 billion against a goal of GH¢4.89 billion, resulting in a deficit of about GH¢800 million.
The shortfall occurred in Tender 2003, which covered the 91-day, 182-day and 364-day instruments, according to results released by the Bank of Ghana and copied to the Ghana News Agency.
The 91-day bill recorded total bids of GH¢2.56 billion, with GH¢2.54 billion accepted at interest rates ranging between 4.5 and 5.0 per cent.
For the 182-day bill, investors submitted GH¢771 million in bids, out of which GH¢758 million was accepted at rates between 6.48 and 6.95 per cent.
The 364-day bill attracted GH¢1.16 billion in bids, but only GH¢790 million was taken up, with rates ranging from 8.5 to 9.39 per cent.
The weighted average discount rates for the week ending April 24 stood at 4.89 per cent for the 91-day bill, 6.68 per cent for the 182-day bill, and 9.20 per cent for the 364-day bill.
Meanwhile, the central bank has set a new target of GH¢4.485 billion for the next auction, Tender 2004, scheduled later in April.
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