Sale of Treasury bills remained slow, despite being oversubscribed by 8.9%.
According to latest auctioning by the Bank of Ghana, government secured a little above ¢686 million
This is coming a day after the 2-year Treasury bond was undersubscribed by about 15%.
There had been some fluctuations in the sale of the short term securities for some time now. This could have compelled the government to lower the target for the auctioning to ¢630 million cedis.
But it secured a little above ¢686 million in the latest sale.
If the target perhaps have been increased, the government may have missed it. This goes to suggest that liquidity may have tighten on the interbank market or there may be inadequate cash in circulation.
On the other hand, some analysts are urging the government to up the interest rate if it is to attract higher investments.
According to the auctioning results, government secured ¢475million from the sale of the 91-day T-Bills though it accepted ¢267.3 million.
For the 182-day T-Bills, it got ¢211.38 million.
The interest yield for both three months and six months bills however remained unchanged from the previous trading.
Securities | Bids Tendered (GH¢) | Bids Accepted (GH¢) | Interest rate |
91 Day Bill | 475.08 million | 267.32 million | 12.55% |
182 Day Bill | 211.38 million | 211.38.14 million | 13.37% |
Total | 686.4 million | 686.4 million | |
Target | 630 million | | |
Latest Stories
-
Reason for training professional counsellors is to heal a hurting world – CCP president
42 mins -
Woman allegedly brings dead man to bank to take out a loan
50 mins -
It’s a good feeling to score against PSG because I’m a Marseille boy – Andre Ayew
1 hour -
Joe Lartey Sr: A voice that brought life to Ghana sports and beyond
2 hours -
Bawumia promises to tackle issue most dear to Ghanaians as he begins nationwide campaign
3 hours -
Indian couple donate $24m fortune to charity to adopt monkhood
3 hours -
Australians call for tougher laws on violence against women after killings
4 hours -
African Development Council establishes mission in Benin for Francophone countries
4 hours -
Okyeame Kwame reveals his secret to longevity in music industry
4 hours -
Youthful-looking 60-year-old woman qualifies for Miss Argentina contest
4 hours -
Ejisu By-Election: Campaign heats up as NPP holds final rally ahead of Polls on Tuesday
4 hours -
Rwanda plan: Irish government wants to send asylum seekers back to UK
4 hours -
Ice cubes now cost more than bread and milk in parts of Mali
6 hours -
Titanic gold pocket watch sells for £900,000
7 hours -
Elon Musk in China to discuss enabling full self driving – reports
7 hours