July 24, 2024
P.O.Box 613ER Gombilla House, Lamashegu Market, Tamale, Northern Region

T-bills auction: Government achieves 25% oversubscription; interest rates up for 5th month running

Interest rates surged for the 5th month running despite the government recording a 25.7% oversubscription of treasury bills auction.

According to auction results from the Bank of Ghana, total bids tendered for the short-term securities were estimated at about ¢3.25 billion.

The government however accepted about ¢3.09 billion of the total bids.

According to the figures from the Central Bank, ¢2.143 billion of the total bids came from the 91-day bill, but the government accepted 2.114 billion.

For the 182-day bill, the bids tendered were estimated at ¢674.64 million.

However, the government accepted about ¢548.72 million.

All of the ¢433.28 million offered for a 364-day bill was accepted by the government.

Meanwhile, interest rates on the 364-day bill shot up by 0.33% to 32.50%.

The 91-day bill also went up to 28.50% from the 28.12% the previous week. That of the 182-day bill also reached 30.67%, from 29.93% previously.

SECURITIESBIDS TENDERED (GH¢)BIDS ACCEPTED (GH¢)
91-Day Bill2.143 billion2.114 billion
182-Day Bill674.64 million548.72 million
364-Day Bill433.28433.28
   
Total3.251 billion3.096 billion
Target2.585 billion 
   

Source: Joy Business

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