Government exceeded its treasury bills target by over 13 percent to the tune of ¢2.94 billion, but interest rates continued to surge disturbingly.
According to the latest auction by the Bank of Ghana, interest rates reached almost 32%.
The target for this auction was ¢2.601 billion, but the bids tendered were ¢2.944 billion.
About ¢2.907 billion were accepted. Majority of the bids came from the 91-day bill in which about ¢2.206 billion were tendered.
However, the government accepted ¢2.202 billion.
For the 182-day bill, a little above ¢322 million were offered, but the government accepted ¢289.19 million.
With regard to the one year bill, all the bids worth ¢415.78 million tendered were accepted.
Meanwhile, the interest rate on the three-month bill jumped to 27.78%, from 27.36% the previous week. That of the 6-month bill went up by 0.40%.
The 364-day yield also surged to 31.97%, from the past week’s 31.65%.
| SECURITIES | BIDS TENDERED | BIDS ACCEPTED |
| 91 Day Bill | 2.206bn | 2.202bn |
| 182 Day Bill | 322.56m | 289.19m |
| 364 Day Bill | 415.78m | 415.78m |
| TOTAL | 2.944bn | 2.907bn |
| TARGET | 2.601bn |
Latest Stories
-
All payments received from our contract with GRA are performance-based, says SML
36 mins -
Marrakech 2024: Ghana’s para-athlete Zinabu Issah wins Gold
37 mins -
Our contract with GRA followed due process; ignore contrary reports – SML
38 mins -
SML is just Agyapa in suit and tie – Bright Simons
1 hour -
Domelevo condemns selection of KPMG to audit GRA/SML contract as illegal and unprofessional
1 hour -
SML/GRA contract: OSP should have released its report by now – Inusah Fuseini
2 hours -
KPMG report exonerates us – SML
2 hours -
Works and Housing Ministry seeks lasting solutions to challenges with stakeholders engagement
2 hours -
President’s statement on GRA-SML contract underlines Fourth Estate’s revelation – MFWA
3 hours -
Our services are one of a kind, not done by NPA – SML insists
3 hours -
We operate legally and collaborate with world-class partners – SML
3 hours -
Director urges parents to protect children from abuse
3 hours -
Imani-Ghana criticises Akufo-Addo for not lauding Fourth Estate’s contribution to social development
3 hours -
Man remanded for allegedly stabbing businessman with broken bottle and screwdriver
4 hours -
Population in Kumasi Central Prison surges to 1800, threefold exceeding capacity
4 hours