The government exceeded its treasury bills target once again the week after the Minister of Finance presented the Mid-Year Budget Review last Thursday, 23rd July 2026. According to the auction results released by the Bank of Ghana, the government achieved a 30.3% subscription in the T-bills auction. The government received bids worth GH¢12.3 billion.
However, it accepted GH¢11.5 billion The 364-day bill was once again the most subscribed bill as GH¢8.1 billion of the bids were tendered, representing 65.5% of the total bids. The uptake was, however, GH¢7.8 billion. The 182-day bill received bids of GH¢1.3 billion.
A little above GH¢1.1 billion was accepted. For the 91-day bill, GH¢2.9 billion of the bids were tendered. A little above GH¢2.6 billion of the bids were accepted.
Meanwhile, interest rates fell on the yield curve. The yield on the 91-day bill went down by 11 basis points to 5.76%. That of the 182-day bill also decreased to 7.68% from the previous week’s 7.78%.
Similarly, the yield on the 364-day dropped by 3.0 basis points to 12.96%. SECURITIESBIDS TENDERED (GH¢)BIDS ACCEPTED (GH¢)91 Day Bill 2.95bn2.60bn182 Day Bill1.30bn1.12bn364 Day Bill8.11bn7.82bn Total12.37bn11.54bnTarget9.492bn
Summary from source