Demand for treasury bills surged as interest rates took another nose dive on the money market.
According to the Bank of Ghana auction results, the government secured nearly GH¢5 billion from the T-bills sale, about 33.8% oversubscription.
A chunk of the bids came from the 91-day bill.
About GH¢3.825 billion, representing 77.7% were tendered. All the bids were accepted.
That of the 182-day bill was estimated at GH¢822.39 million. The uptake was also the same.
For the 364-day bill, GH¢272.62 million was tendered. All the bids were accepted.
Meanwhile, interest rates continued to nose-dived as the yield on the 91-day T-bill almost eased by 25 basis points to 25.0%.
The interest rate on the 182-day bill also decreased to 26.99% from 27.39% the previous week.
But the yield on the 364-day bill remained relatively the same at 27.99%.
Most analysts believe the government will continue to borrow heavily from the treasury market to finance its expenditure.
SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
91 Day Bill | 3.825 billion | 3.825 billion |
182 Day Bill | 822.39 million | 822.39 million |
364 Day Bill | 272.62 million | 272.62 million |
Total | 4.920 billion | 4.920 billion |
Target | 3.677 billion | |
Latest Stories
-
I was suspended in SHS after making a dance video with my uniform – Lisa Quama
59 mins -
Unemployed man sentenced to 5 years for causing harm
1 hour -
GTA gears up for National Tourism Awards 2024
1 hour -
Police foil robbery attempt, arrest four suspects
1 hour -
Prof. Gyampo criticises vacating of MP seats due to cross-carpeting
4 hours -
A critical examination of Speaker Alban Bagbin’s ruling on potential breaches of Article 97(1)(G) and (H)
5 hours -
Trump calls 6 January ‘day of love’ when asked about Capitol riot
5 hours -
UTAG calls for immediate prosecution of persons arrested for engaging in galamsey
5 hours -
Prof Ransford Gyampo: And Speaker Bagbin declared 4 seats vacant…
6 hours -
Secret Service has ‘deep flaws’ and must overhaul leadership, report says
6 hours -
Kenya’s deputy president sacked while in hospital
6 hours -
One Direction ‘devastated’ at Liam Payne’s death
6 hours -
Ghana’s debt to ease to 70% of GDP in 2024; another debt default unlikely – Fitch
6 hours -
Meta fires staff for buying toothpaste, not lunch
6 hours -
U-20 AFCON 2025Q: Afriyie’s brace earns Ghana draw against Benin
6 hours