The government recorded a 13.61% oversubscription on its treasury bills auction for the second consecutive week, driven by higher interest rates on the yield curve.

According to the Bank of Ghana's auction results, the government received total bids of GH¢8.43 billion against a target of GH¢7.42 billion, and ultimately accepted GH¢8.29 billion.

The 91-day bill was the most subscribed security, drawing GH¢6.03 billion in bids, which accounted for 71.5% of the total. The government accepted all GH¢6.03 billion of these bids. For the 182-day bill, bids reached GH¢1.10 billion, with GH¢1.04 billion accepted.

The 364-day bill attracted GH¢1.29 billion in bids, of which GH¢1.21 billion were accepted.

Interest rates on the yield curve showed mixed movements.

The yield on the 91-day bill increased by 3.0 basis points to 5.04%, and the yield on the 364-day bill rose by 14.0 basis points to 10.97%. Conversely, the yield on the 182-day bill declined slightly to 7.08%, down from 7.09% the previous week.