Investor demand for Government of Ghana short-term securities remained resilient in the latest primary market auction, according to newly released data from the Bank of Ghana. Total bids reached GH¢4.4 billion, slightly below the government’s target of GH¢4.8 billion for the 91-day, 182-day, and 364-day treasury instruments.

Despite missing the target by about 8.2 percent, authorities adopted a measured approach, accepting GH¢4.0 billion of the submitted bids.

The 91-day treasury bill continued to attract the strongest interest, making up more than half of total demand as investors favored liquidity and lower risk exposure. It recorded GH¢2.55 billion in bids, with GH¢2.54 billion accepted.

Demand for the 182-day bill stood at GH¢771 million, of which GH¢758 million was taken up. Meanwhile, the 364-day instrument drew approximately GH¢1.1 billion in bids, with GH¢790 million accepted.

Yields edged higher across all maturities, pointing to tightening liquidity conditions in the money market. The 91-day bill rose by 3 basis points to 4.94 percent, up from 4.91 percent the previous week. The 182-day yield increased by 13 basis points to 6.90 percent from 6.77 percent, while the 364-day bill climbed 15 basis points to 10.12 percent from 9.97 percent.

For the upcoming auction, the government has slightly reduced its borrowing target to GH¢4.47 billion, covering the same range of short-term instruments.