Interest rates recorded relative stability for the second week running, about 10 days since the government announced its intention to seek economic support from the International Monetary Fund.
This signifies that investors are gradually reposing confidence in the economy, following the government’s engagement with the International Monetary Fund (IMF) to help revive the economy.
So far, the yield of Ghana’s Eurobonds on the international market is becoming attractive.
The improved liquidity on the market is expected to help government finance its programmes with ease.
According to the auctioning results, the interest rate on the 91-day Treasury bills stood at 25.89%, compared with 25.88% recorded a week ago.
That of the 182-day T-bills was 26.54%, 0.01% lower than the 26.55% registered the previous week.
Meanwhile, the government recorded a 43% oversubscription from the sale of the short-term instruments.
It secured ¢1.32 billion, from a target of ¢928 million.
A billion cedis was however mobilised from the 91-day T-bills, whilst ¢214.05 million was generated from the sale of the 182-day T-bills.
Securities | Bids Tendered (GH¢) | Bids Accepted (GH¢) | Interest rate |
91 Day Bill | 1.007 billion | 1.001 billion | 25.89% |
182 Day Bill | 214.05 million | 214.05 million | 26.54% |
364 Day Bill | 107.06 million | 107.06 million | 27.49 |
Total | 1.328 billion | 1.322 billion | |
Target | 928 million |
Latest Stories
-
Failure to properly transfer gun ownership can land you behind bars
16 mins -
Reduce over-reliance on imports to stabilise cedi – TUC boss tells Ghanaians
32 mins -
‘We’re taking it game by game’ – Ibrahim Tanko on Accra Lions’ title ambitions
40 mins -
Nigerians pick sides as Wizkid and Davido clash online
45 mins -
Nigeria Workers’ Day: Civil servants get pay rises up to 35%
51 mins -
“I am the Austrian team boss with all my heart,” Rangnick turns down Bayern
1 hour -
Failed asylum seeker given £3,000 to go to Rwanda
1 hour -
Nigerian gasoline prices soar as shortages worsen cost of living crisis
2 hours -
Paris 2024: We will win medal at Olympics if government invests more – GPC President
2 hours -
Akufo-Addo calls for protection of Ghana’s democratic reputation and identity
2 hours -
Apple working to fix alarming iPhone issue
2 hours -
‘You won’t win GPL title without your own stadium’ – Bashir Hayford tells Kotoko, Hearts
2 hours -
Ryan Garcia denies using performance-enhancing drugs after beating Devin Haney
2 hours -
We must change phenomenon of moneyed elections – Raymond Atuguba
2 hours -
Accra Lions punished us for not taking our chances – Hearts of Oak assistant coach Abdul Bashiru
2 hours