The treasury bill auction on September 19, 2025 attracted a total of GH¢3.45 billion in bids against a target of GH¢3.02 billion, resulting in a modest oversubscription. Out of the bids, the government accepted GH¢3.43 billion in total across the 91-day, 182-day, and 364-day tenures .

Interest rates declined slightly across all maturities. The 91-day bill eased to 10.46% from 10.53% the week before, the 182-day bill fell to 12.36% from 12.44%, and the 364-day bill dipped to 12.88% from 12.96% .

The auction marked an improvement from the 21% undersubscription recorded on September 12, although two of the last three auctions have still fallen short of targets. The government will seek to raise GH¢5.58 billion at the next auction on September 26, a sharp increase from last week’s target.