Rates of Treasury securities have fallen as government recorded 96% oversubscription of its latest Treasury bills sale, figures from the Bank of Ghana have revealed.
The figures further indicated that investor interest in the government's short term securities continue to soar, particularly the three-month T-Bills.
However, government's decision to reduce its borrowing albeit marginally has largely led to a minimal fall in interest rate.
Treasury yield on the 91-day Treasury bill fell by about 0.25% to 13.81%, whilst that of the 6-month T-Bill has gone down by about 0.08% to 14.01%.
For the past five weeks, Treasury bills sale have been oversubscribed, shaking off the under-subscription mode after the December 7, 2020 elections through the Christmas festivity.
The government was looking to mobilize GH¢856 million for the short term securities, but got GH¢1.679 billion.
It will be pleased with the investor interest because it is securing enough funds to repay maturing loans and also finance the budget.
For the 91-day T-Bill, the government got a little above GH¢1.5 billion worth of bids, but accepted GH¢962 billion.
It also accepted about GH¢113.82 million cedis for the 6-month bill, though the bids tendered were GH¢114.77 million.
Data from the Bank of Ghana indicates that the Government Treasury securities were priced lower than the present rate during the early part of last year. But the latest fall in interest rates could shift to that trend.
Target (91-day & 182-day T-Bill) | GH¢856m |
Bids tendered | GH¢1.679bn |
Government accepted | GH¢1.076.75bn |
Latest Stories
-
We don’t want armed soldiers at polling stations – Tanko-Computer
3 mins -
Drama as police corner armed robbers inside locked forex bureau at Lapaz
14 mins -
Nigerian-born conquers childhood hearing loss to become KNUST’s overall best graduating student
39 mins -
ECOWAS Court orders compensation for violations against New Force’s Shalimar Abbiusi
51 mins -
Dreams FC denies allegations of attempting to sign Najeeb Yakubu
2 hours -
Election 2024: ‘Right to free and fair elections non-negotiable’ – Akufo-Addo
2 hours -
Kurt Okraku took out my passport from the U23 squad that travelled to Japan – Najeeb Yakubu alleges
2 hours -
Where hope fails: Ghana’s decaying home for the destitute
2 hours -
NDC Mining Committee for 2024 campaign refutes allegations of recruiting thugs for elections
2 hours -
Traction Control: A lifesaver with an off switch? Here’s why it exists
3 hours -
I don’t need anyman to woo me with money – Miss Malaika 2024 winner refutes pimping claims
3 hours -
”Kurt Okraku sabotaged my national team career because I refused to sign with Dreams FC” – Najeeb Yakubu
3 hours -
Businesses urged to leverage Generative AI for enhanced customer engagement
3 hours -
MultiChoice Ghana partners with Ghana Hotels Association to elevate guest entertainment
3 hours -
Bawumia’s music streaming app or Mahama’s pay-per-view TV channel?
3 hours