https://www.myjoyonline.com/t-bills-government-records-another-marginal-oversubscription-but-interest-rates-surge/-------https://www.myjoyonline.com/t-bills-government-records-another-marginal-oversubscription-but-interest-rates-surge/

The government recorded another marginal oversubscription of treasury bills but at the expense of rising interest rates.

According to auction results from the Bank of Ghana, the government bagged GH¢4.078 billion as against a target of GH¢4.01 billion.

All the bids tendered were oversubscribed.

About GH¢3.32 billion representing 82.97% came from the 91-day bill.

A little over GH¢549.96 million were offered for the 182-day bill.

However, GH¢200.78 million were tendered for the 364-day bill.

The securities will be issued today November 4, 2024.

Meanwhile, interest rates continued to rise on the yield curve.

The yield on the 91-day bill went up by 37 basis points to 26.56%.

That of the 182-day bill was 27.58% as against 27.29% the previous week.

The rate on the 364-day bill was however up by 6.0 basis points to 28.97%.

SECURITIESBIDS TENDERED (GH¢)BIDS ACCEPTED (GH¢)
91 Day Bill        3.327 billion    3.327 billion    
182 Day Bill549.96 million549.96 million
364 Day Bill200.78 million200.78 million
   
Total4.078 billion4.078 billion
Target 4.010  billion 
   

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.