Government has for the fourth consecutive time recorded a marginal oversubscription of its sale of treasury bills.
This comes as Government last week mobilized, GH¢4.1 billion surpassing the target of GH¢4 billion for the sale of the short-term instruments.
Latest auction results from the Central Bank, indicate that Government passed its treasury bill auction target by GH¢68 million this week.
All GH¢3.3 billion from the 91-day bill was accepted. All GH¢ 549 million and GH¢200 million from investors for the 182–day bills and the 364-day bills respectively were also accepted.
Also yields continue to rise and this appears to have driven demand for the short-term debt instruments with rates ticking upward across all maturities as the 91-day bill closed at 26.5%, the 182-day bill reached 27.5% and the 364-day bill ended at 29%.
For the next auction, Government is targeting GH¢5.6 billion.
