The government missed its treasury bills target by a significant 55%, the biggest undersubscription recorded so far this year.
This is coming after it posted a 23% oversubscription of the short-term instruments the previous week.
According to trading results by the Bank of Ghana, the government got GH¢2.92 billion of the short-term instruments as against a target of GH¢6.57 billion.
It, however, accepted GH¢2.08 billion of the total bids.
A little over 71.2% of the bids came from the 91-day bill compared with 83% the preceding week. About GH¢2.085 billion of the bids were tendered. The uptake was GH¢2.080 billion.
For the 182-day bill, GH¢704.6 million of the bids were tendered. The bids accepted were estimated to the tune of GH¢699 million.
Also, GH¢136.5 million of the bids were tendered for the 364-day bill. About GH¢110 million of the bids were accepted.
Meanwhile, the yield on the 91-day bill increased by 16 basis points to 10.69%.
That of the 182-day bill also shot up to 12.43% from 12.30% the preceding week.
The yield on the 364-day bill rose by 5.0 basis points to 12.92%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 2.085bn | 2.080bn |
| 182 Day Bill | 704.66m | 699.66m |
| 364 Day Bill | 136.53m | 110.07m |
| Total | 2.926bn | 2.080bn |
| Target | 6.578bn |
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