Interest rates continued to fall on the yield curve since January 1, 2024.
According to auction results by the Bank of Ghana, the rates on the 91-day, 182-day and 364-day bills all declined.
The yield on the 91-day bill tumbled by 10 basis points to 25.54%.
That of the 182-day bill also dropped to 27.64%, from the previous week’s 28.14%.
The 364-day bill again eased by 59 basis points to 28.24%.
Indeed, liquidity on the money market appears to be tightening following uncertainties regarding the government debt restructuring with Eurobond holders.
Meanwhile, the government failed to meet its T-bills target by 10.58%. It got GH¢3.110 billion as against a target of GH¢3.478 billion.
The 91-day bill was however the most patronised financial instrument. GH¢1.983 billion, representing 63.76% were tendered, and all were accepted.
This was followed by the 182-day bill in which GH¢ 878.60 million was tendered and the uptake was the same.
The 364-day bill saw GH¢ 248.76 million bids tendered. All the bids were accepted.
| SECURITIES | BIDS ACCEPTED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 1.983 billion | 1.983 billion |
| 182 Day Bill | 878.60 million | 878.60 million |
| 364 Day Bil | 248.76 million | 248.76 million |
| Total | 3.110 billion | 3.110 billion |
| Target | 3. 478 billion |
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