Interest rates continued to surge on the money market, signaling an increasing cost of domestic debt.
According to the latest results by the Bank of Ghana, interest rates went up across the yield curve.
This is coming after the government forced rates down in March 2023, following the completion of the first phase of the Domestic Debt Exchange Programme.
The yield on the 364-day bill went up by 0.41% to 31.65%.
Again, the rate of the highly patronized 91-day bill shot up to 27.36%, from 27.02%.
Similarly, the rate on the 182-day bill increased from a marginal 0.10% to 28.71%.
Meanwhile, the government recorded about 15.10% oversubscription of the treasury bills target to the tune of ¢3.52 billion. All the bids tendered for the auction were accepted.
The 91-day bill received an uptake of about ¢2.63 billion.
That of the 182-day bill received bids worth little above ¢650 million.
The one-year bill however got bids to the tune of ¢237.08 million.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 2.639 billion | 2.639 billion |
| 182 Day Bill | 650.63 million | 650.63 million |
| 364 Day Bill | 237.08 million | 237.08 million |
| TOTAL | 3.526 million | |
| TARGET | 3.064 billion |
Latest Stories
-
I want to focus more on my education – Chidimma Adetshina quits pageantry
3 hours -
Priest replaced after Sabrina Carpenter shoots music video in his church
3 hours -
Duct-taped banana artwork sells for $6.2m in NYC
3 hours -
Arrest warrants issued for Netanyahu, Gallant and Hamas commander over alleged war crimes
3 hours -
Actors Jonathan Majors and Meagan Good are engaged
3 hours -
Expired rice saga: A ‘best before date’ can be extended – Food and Agriculture Engineer
3 hours -
Why I rejected Range Rover gift from a man – Tiwa Savage
3 hours -
KNUST Engineering College honours Telecel Ghana CEO at Alumni Excellence Awards
4 hours -
Postecoglou backs Bentancur appeal after ‘mistake’
4 hours -
#Manifesto debate: NDC to enact and pass National Climate Law – Prof Klutse
4 hours -
‘Everything a manager could wish for’ – Guardiola signs new deal
4 hours -
TEWU suspends strike after NLC directive, urges swift resolution of grievances
4 hours -
Netflix debuts Grain Media’s explosive film
5 hours -
‘Expired’ rice scandal: FDA is complicit; top officials must be fired – Ablakwa
5 hours -
#TheManifestoDebate: We’ll provide potable water, expand water distribution network – NDC
6 hours