Audio By Carbonatix
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
-
Lamborghini Saga: EOCO boss has tarnished my brand and cost me business deals – Shatta Wale
1 hour -
Mugabe’s son drops bail request – what has happened to the family after losing power
2 hours -
Tyla deserved to win Grammy ahead of Nigerian artists – Joeboy
2 hours -
Ishmael Norman hails Interior Minister for choosing merit over politics in security recruitment
2 hours -
Iranian minister says country will not play in World Cup
2 hours -
No evidence Swiss bus fire was terrorism, officials say
2 hours -
Three brothers arrested after explosion at US embassy in Oslo
2 hours -
‘Disgusting but not surprising’: Domelevo demands dismissal, prosecution of officials in GH¢8.1bn audit rot
2 hours -
Nitiwul sounds alarm over Sokoto strike: Claims Ablakwa’s disclosure exposes Ghana to terror risk
3 hours -
Police arrest suspect for defilement, possession of child sexual abuse materials
3 hours -
Security services recruitment: Ntim Fordjour accuses Interior Ministry of milking over GH¢100m from applicants
3 hours -
Why risk protection is the unsung partner of growth for Ghana’s SMEs, households
3 hours -
New US ambassador to South Africa summoned over ‘undiplomatic remarks’
4 hours -
Three firms roll out AI-powered security platform for financial institutions
4 hours -
My passion for technology began in childhood – Shatta Wale
4 hours