Government secured ¢2.411 billion from the sale of Treasury bills last Friday, July 22nd, 2022, an oversubscription of 23%.
This is coming despite interest rates going up marginally on the money market to reflect the rising inflation rate.
According to auctioning results from the Bank of Ghana, government accepted bids worth ¢2.407 billion from the local investors.
This is the 4th consecutive week that T-bills have been oversubscribed or the government has met its target.
Again, chunk of the amount came from the 91-day T-bill, whereby ¢1.27 billion was mobilised. ¢975 million was however raised from the 182-day T-bill.
For the 364-day T-bill, GH¢162.47 was received.
Meanwhile, interest rate on the 91-day and 182 day T-bills went up to 26.34% and 28.06% respectively. This was from the 25.95% and 27.46% the previous week.
Again, interest rate on the one-year bill (364-Day) also increased to 27.85%.
Gradually, liquidity on the financial market is improving, but at a higher cost because of the rising interest rate.
Now that the rate of inflation has slowed, market watchers will be keenly watching whether interest rates will firmly stabilise and start trending downwards.
Securities | Bids Tendered (GH¢) | Bids Accepted (GH¢) | Interest rate |
91 Day Bill | 1.273 billion | 1.273 billion | 26.34% |
182 Day Bill | 975 million | 974.97 million | 28.06% |
364 Day Bill | 162.47 million | 158.96 million | 27.85% |
Total | 2.411 billion | 2.407 billion | |
Target | 1.947 billion |
Latest Stories
-
Fatawu Issahaku’s Leicester City secures Premier League promotion after Leeds defeat
5 mins -
Anticipation builds as Junior Speller hosts nationwide auditions
36 mins -
Etse Sikanku: The driver’s mate conundrum
1 hour -
IMF Deputy Chief worried large chunk of Eurobonds is used to service debt
1 hour -
Otumfuo Osei Tutu II celebrates 25 years of peaceful rule on golden stool
1 hour -
We have enough funds to pay accruing benefits; we’ve never missed pension payment since 1991 – SSNIT
2 hours -
Let’s embrace shared vision and propel National Banking College – First Deputy Governor
2 hours -
Liverpool agree compensation deal with Feyenoord for Slot
3 hours -
Ejisu by-election: There’s no evidence of NPP engaging in vote-buying – Ahiagbah
3 hours -
Ejisu by-election: Independent ex-NPP MP’s campaign team warns party against dubious tactics
3 hours -
ZEN Petroleum supports Tse-Addo Future Leaders School
4 hours -
NPP must win back Adentan seat in 2024 polls – Obeng Fosu
4 hours -
PPA Clarification: The dark side of the World Bank’s ‘giveaways’ in Ghana by Bright Simons
5 hours -
Blinken says China helping fuel Russian threat to Ukraine
6 hours -
MHA declares May as Purple Month for Mental Health Awareness
6 hours