Last week’s Treasury bill auction attracted strong investor appetite, with total bids reaching GH¢14.82 billion — more than double the government’s target of GH¢5.81 billion.

According to data released by the Bank of Ghana, the Treasury accepted GH¢8.8 billion of the amount tendered, rejecting approximately GH¢6.01 billion. The final uptake exceeded the initial target by about GH¢3.0 billion.

The results represent an oversubscription rate of 155.33 per cent and pushed yields to their lowest levels in more than 30 years.

Breakdown figures show that the 91-day bill received GH¢6.83 billion in bids, with GH¢3.74 billion accepted. The 182-day bill attracted GH¢2.83 billion, of which GH¢1.52 billion was taken up. Meanwhile, the 364-day instrument recorded GH¢5.17 billion in bids, with GH¢3.54 billion accepted.

Yields declined across all tenors. The 91-day bill fell by 113 basis points to 5.32 per cent. The 182-day bill dropped by 121 basis points to 6.97 per cent from 8.18 per cent. The 364-day bill also eased by 44 basis points to settle at 9.76 per cent, down from 10.21 per cent.

For the upcoming auction, the Treasury is targeting GH¢5.68 billion across the 91-, 182-, and 364-day bills.