The government exceeded its Treasury Bills (T-Bills) target by approximately 75%, raising GHS4.2 billion in the most recent treasury auction.
The auction results showed that the government received an additional GHS800,000, despite the fact that it had hoped to raise GHS2.4 billion to refinance treasury bill maturities.
The majority of bids came from 91-day T-bills, which received slightly more than GHS1.991 billion. However, only GHS1.434 billion of the bids were accepted, representing a 19% interest rate.
Investors offered GHS1.161 billion for the 182 data, with the government accepting GHS925 million.
The yield on the 182-day bill was approximately 22%.
Last week, the government rejected all bids from investors for the sale of Treasury bills from investors who were demanding high-interest rates of about 35 percent.
The 35 percent plus interest rate from largely banks, according to the government was too expensive.
