https://www.myjoyonline.com/t-bills-auction-government-achieves-13-21-oversubscription-interest-rates-reach-nearly-32/-------https://www.myjoyonline.com/t-bills-auction-government-achieves-13-21-oversubscription-interest-rates-reach-nearly-32/

Government exceeded its treasury bills target by over 13 percent to the tune of ¢2.94 billion, but interest rates continued to surge disturbingly.

According to the latest auction by the Bank of Ghana, interest rates reached almost 32%.

The target for this auction was ¢2.601 billion, but the bids tendered were ¢2.944 billion.

About ¢2.907 billion were accepted. Majority of the bids came from the 91-day bill in which about ¢2.206 billion were tendered.

However, the government accepted ¢2.202 billion.

For the 182-day bill, a little above ¢322 million were offered, but the government accepted ¢289.19 million.

With regard to the one year bill, all the bids worth ¢415.78 million tendered were accepted.

Meanwhile, the interest rate on the three-month bill jumped to 27.78%, from 27.36% the previous week. That of the 6-month bill went up by 0.40%.

The 364-day yield also surged to 31.97%, from the past week’s 31.65%.

SECURITIESBIDS TENDEREDBIDS ACCEPTED
91 Day Bill2.206bn2.202bn
182 Day Bill       322.56m289.19m
364 Day Bill       415.78m415.78m
   
TOTAL2.944bn2.907bn
TARGET2.601bn 

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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.