Ghana T-bill auction draws GH¢10.51 billion in bids, 79.2% above GH¢5.87 billion target

AI Market Summary
Ghana's T-bill auction was 79.2% oversubscribed (GH¢10.51bn bids vs GH¢5.87bn target), signaling strong demand for short-term sovereign paper despite the government rejecting GH¢1.86bn. Front-end yields edged lower (91d 5.76%, 182d 7.64%) while the 364d rose slightly to 12.98%, suggesting curve-specific repricing amid ample liquidity. Broader market impact appears contained.
Impact level
● Low
Affected assets
NCCOGOLD2USD/USDT-0.36%
AI Insight · NCCOGOLD2USD/USDTAI Insight
● Neutral
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Ghana’s latest Treasury bill auction attracted GH¢10.51 billion in bids for the 91-day, 182-day and 364-day tenors, exceeding the GH¢5.87 billion target and resulting in a 79.2% oversubscription. The 364-day bill saw the strongest interest, with GH¢7.47 billion tendered and GH¢7.18 billion accepted. The government accepted GH¢8.65 billion overall, rejecting nearly GH¢1.86 billion, according to results released by the Bank of Ghana.