Interest rates on the money market returned to the 30% bracket as the government mobilised more funds to finance maturing debt.
According to the auction result by the Bank of Ghana, the government accepted all bids tendered for the treasury bills by the investors to the tune of ¢2.699 billion.
The T-bills sale was oversubscribed by a marginal 1.70%. But the rising interest cost is a major concern to all stakeholders.
The yield on the 364-day bill inched up to 30.04%, from the previous 29.65%. That of the 91-day bill shot up by 0.39% to 24.92%.
Again, the 182-day bill also escalated to 26.80%, from 26.40% previously.
In the first four months of this year, the government’s domestic debt went up by a significant ¢15.6 billion.
According to the result by the Bank of Ghana, about ¢1.785 billion were tendered for the 91-day bill. All the bids were accepted.
About ¢357 million were also gotten from the 182-day bill after all the bids from the investors were accepted.
About ¢557 million were, however, mobilized from the one-year bill.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91-day bill | 1.785 billion | 1.785 billion |
| 182-day bill | 357.05 million | 357.05 million |
| 364-day bill | 557.32 million | 557.32 million |
| Total | 2.699 billion | 2.699 billion |
| Target | 2.654 billion | 2.654 billion |
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