Momentum
in
the
treasury
market
persists,
with
investors
showing
mild
interest
in
t-bills
during
the
latest
money
market
auction.
Investors
submitted
bids
totalling
GH¢3.34
billion,
surpassing
the
GH¢3.24
billion
target,
according
to
auction
results
released
by
the
Bank
of
Ghana
According
to
figures
from
the
Bank
of
Ghana,
a
chunk
of
the
bids
came
in
from
the
91-day
bill.
Investors
tendered
GH¢2.51
billion
for
the
3-month
financial
instrument,
with
the
government
accepting
all.
The
government
also
received
and
accepted
total
bids
worth
GH¢651.11
million
from
investors
for
the
182–day
bill.
For
the
364-day
bill,
the
government
accepted
all
the
bids
tendered
worth
GH¢182.68
million.
In
all,
the
total
amount
sold
at
this
auction
exceeded
the
auction
target
by
3%,
as
interest
rates
continued
to
tumble
on
the
money
market
averaging
between
21
and
23
percent
Meanwhile,
analysts
believe
that
the
weighted
average
rates
for
the
week
indicate
competitive
bidding
and
investor
confidence
in
government
securities.
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