Interest rates in the short-term Treasury market rose further to 31% on September 10, 2022, as investors continue to show interest in the short-term securities.
Though government exceeded its target for the 13th week running, the cost of repaying these loans will go up.
Since inflation begun rising about five months ago, interest rates have been escalating consistently to compensate investors.
This has boosted investor interest in Treasury bills.
However, the rising interest payments is a matter of concern to many economists, analysts and market watchers.
According to the auction results by the Bank of Ghana, the 91-day Treasury bill went for 29.48%, compared to 29.04% the previous week, whilst the 182-Day T-bill traded at 31.05%, as against 30.22% the earlier week.
Similarly, the T-bills sale was oversubscribed by 35% to the tune of ¢2.287 billion.
Though the investors still showed more interest in the 3-months bill that of the 6 months bill also witnessed significant interest this time around.
¢860.92 million worth of the bids came from the 182-day bill. ¢815.70 million were however accepted.
For the 91-day bill, ¢1.427 billion of the bids were tendered in, but ¢1.410 billion were accepted.
The target for this auction was ¢1.682 billion.
Securities | Bids Tendered (GH¢) | Bids Accepted (GH¢) |
91 Day Bill | 1.427 billion | 1.410 billion |
182 Day Bill | 860.92 million | 815.70 million |
Total | 2.287 billion | 2.225 billion |
Target | 1.682 billion |
Latest Stories
-
Women’s FA Cup semis: Army Ladies face FC Epiphany; Police Ladies up against Supreme Ladies
35 mins -
Police haul in Kwadaso MP, EC officials in probe of Ejisu by-election ‘bribery’ case
2 hours -
Ghana’s press freedom ranking: Are we actually improving?
3 hours -
Reflections: 50 Lessons at 50
3 hours -
NCCE briefs Council of State on civic plans for 2024
3 hours -
Ecobank Group reports Profit Before Tax of $581m, on net revenue of $2.1bn for 2023
3 hours -
More businesses are working to move out of Ghana – Food and Beverages Association
3 hours -
Empowering Ghana’s Environmental Narrative: Celebrating World Press Freedom Day 2024
3 hours -
AG hasn’t closed investigations into Cecilia Dapaah’s case – Spokesman
3 hours -
Ghana Tourism Authority celebrates ‘Feast Ghana’ on May Day with a Taste of Culture
4 hours -
Fella Makafui gets emotional and teary-eyed reacting to old video with Medikal
4 hours -
FBNBank Ghana changes to FirstBank Ghana to align with Group identity
4 hours -
Agogo Presby Hospital celebrates staff over zero maternal death record
5 hours -
Ghana isn’t broke to procure high and low-voltage poles – Energy Minister
5 hours -
Appiatse residents handed keys to newly constructed homes
5 hours