The government oversubscribed about 11% of its treasury bill sales for the third consecutive week.
However, it came at the expense of rising interest rates.
According to data from the Bank of Ghana, the government got GH¢4.42 billion from the auction of the short-term instrument as against a target of GH¢3.98 billion.
The government accepted all the bids tendered for the auction by investors.
About 72% of the bids came from the 91-day bill.
A total of GH¢3.18 billion was offered for the 3-month bill.
For the 182-day bill, GH¢ 957.67 million were tendered.
A little over GH¢276 million were offered for the 364-day bill.
Meanwhile, interest rates continued to surge on the yield curve.
The yield on the 91-day bill went up by 25 basis points to 26.19%.
That of the 182-day bill was 27.29% as against 27.03% the previous week.
The rate on the 364-day bill was however up by 24 basis points to 28.97%.
SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
91 Day Bill | 3.188 billion | 3.188 billion |
182 Day Bill | 957.67 million | 957.67 million |
364 Day Bill | 276.32 million | 276.32 million |
Total | 4.422.11 billion | |
Target | 3.980.00 billion | |
Latest Stories
-
Ghana Actors Guild: Abeiku Sagoe hopeful court issue will be resolved soon
5 mins -
Herbert Mensah hails Ernst Middendorp on 66th birthday for “Transforming Football in Ghana”
19 mins -
New Juaben South NPP launches campaign, embarks on mega health walk
1 hour -
Bawku conflict: We have currently lost 15 lives- Bawku Naaba’s Lawyer
2 hours -
JoySports Invitational: ‘I will be back’ – MultiChoice Ghana CEO
2 hours -
T-bills auction: Government records oversubscription but at expense of rising interest rates
2 hours -
Assemblyman dies fixing streetlight in Koforidua
3 hours -
Joy FM’s Showbiz News Flash returns on November 4
3 hours -
Financial sector assets maintain strong growth momentum despite impairments – Report
3 hours -
Phase 2 of DDEP had relatively low impact on 2023 audited financial performance – BoG
3 hours -
The peace and tranquillity of our country mean more to me than anything else – Mahama asserts
3 hours -
Nkroful Chief warns political party executives involved in galamsey to stop
3 hours -
8 dead in Bawku conflict as gunmen block Bolgatanga-Tamale Highway
3 hours -
Ketu North pastors eulogise Bawumia for his decency, vision and excellence
4 hours -
Your high moral values are in line with our Anlo tradition – Keta chiefs to Bawumia
4 hours