T-bills auction: Gov’t records 41% oversubscription, but yield on 91-day bill increases

The government exceeded its treasury bills target by 41% to GH¢5.01 billion, according to the Bank of Ghana auction results.  

This follows the government borrowing of about GH¢14 billion through short-term instruments in October 2026.

The bids accepted by the government were GH¢4.10 billion, higher than the targeted amount.

A little over GH¢3.0 billion of the bids came from the 91-day bill, representing 59% of the total bids. The uptake was about GH¢2.9 billion.

The 182-day bill also received bids of about GH¢1.6 billion. However, GH¢934.50 million was accepted.

About GH¢388 million of the bids were tendered for the 182-day bill. A little above GH¢243.15 million of the bids were accepted.

Meanwhile, interest rates were mixed along the yield curve.

The yield on the 91-day bill went up by 2.0 basis points to 4.56%.

However, the 182-day bill declined to 6.20% from the preceding week’s 6.26%.

Also, the yield on the 364-day bill decreased by 12.0 basis points to 9.48%.