Treasury Bills were undersubscribed in last week’s auction
The government expects to raise GH¢4.24 billion from the 91, 182 and 364-day bills in today’s auction on August 15, 2025.
The government’s latest Treasury Bill auction saw an undersubscription of GH¢1.90 billion on August 8, 2025.
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According to the Bank of Ghana, the bids were lower than the target of GH¢8.588 billion.
This was the first time in four weeks that the government had seen an undersubscription despite falling interest rates.
The results noted that out of bids worth GH¢6.890 billion, only GH¢6.687 billion was accepted.
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The 91-day bill received bids worth GH¢5.02 billion, but only GH¢4.99 billion was accepted.
For the 182-day bill, GH¢1.23 billion was accepted from the total GH¢1.37 billion that was tendered.
However, the 364-day bill saw a total of GH¢490 million being tendered, but only GH¢452 million was accepted.
Interest rates have, however, seen a constant decline as the rates on the 91-day bill yield fell by 9 basis points to 10.20%.
The 182-day by 10 basis points to 12.25%, and the 364-day fell by 14 basis points to 13.10%.
SSD/AE