Last week’s Treasury bill auction recorded another strong demand, with investors submitting bids worth GH¢14.82 billion against a target of GH¢5.81 billion.

Data from the Bank of Ghana shows that, of the GH¢14.82 billion tendered, the Treasury accepted only GH¢8.8 billion, rejecting about GH¢6.01 billion while taking an additional GH¢3.0 billion above its target.

The outcome translated into an oversubscription rate of 155.33 per cent and drove yields to their lowest levels in over three decades.

The data revealed that the 91-day bill attracted GH¢6.83 billion in bids, of which GH¢3.74 billion was accepted.

The 182-day segment recorded bids of GH¢2.83 billion, with GH¢1.52 billion accepted, while the 364-day bill saw GH¢3.54 billion accepted from GH¢5.17 billion tendered.

Yields fell across all maturities. The 91-day bill declined by 113 basis points to 5.32 per cent. The 182-day bill also fell by 121 basis points to 6.97 per cent from 8.18 per cent, while the 364-day bill shed 44 basis points, settling at 9.76 per cent from 10.21 per cent.

For the next auction, the Treasury has set a target of GH¢5.68 billion for the 91-, 182-, and 364-day bills.