Audio By Carbonatix
The government recorded 47.5% oversubscription of treasury bills auction, the 4th consecutive time this year.
According to data from the Bank of Ghana, the government got GH¢8.855 billion as against a target of GH¢6.0 billion.
The government however accepted GH¢8.163 billion.
A chunk of the funds will be used to finance maturing bills.
About GH¢4.896 billion came from the 91-day bill, representing 56.30% of total bids submitted.
However, GH¢4.479 billion were accepted.
The 182-day bill also witnessed bids worth GH¢1.758 billion tendered. About GH¢1.756 billion were accepted.
The 364-day bill received bids more than the 182-day bill with about GH¢2.110 billion tendered. GH¢1.927 billion were however accepted.
Meanwhile, the rising interest rates continued unabated, raising further concerns of the increasing cost of interest payments.
The yield on the 91-day bill shot up by 10 basis points to 28.51%.
That of the 182-day bill also increased to 29.77% from the earlier 28.97%.
The rate on the 364-day bill also increased by 23 basis points to 30.40%.
Latest Stories
-
Girls must have equal place in Ghana’s digital future – Vice President
6 minutes -
High Court issues EOCO warrant to arrest Manhyia South MP Baffour Awuah
11 minutes -
Ghana at the heart of global PR excellence
19 minutes -
Ghana Institute of Architects clarifies position on ARC-ASG dispute amid ongoing case
20 minutes -
NDC supporters storm Fomena constituency office over alleged disqualification of chairman aspirant
23 minutes -
NPA CEO assures tanker drivers of action on welfare concerns
24 minutes -
Karpowership seeks contract extension as Ghana’s power demand grows
27 minutes -
Gender Ministry inaugurates committee to drive early childhood development
29 minutes -
Four Schools, One Crown: Prempeh, Corpus Christi, Mfantsipim and St Augustine’s battle for NIQ trophy
29 minutes -
HIV status cannot be used to deny employment under Ghana law – Ghana AIDS Commission
30 minutes -
Buffer Stock calls for expansion of national storage capacity as it falls below 50,000 metric tonnes
31 minutes -
Central Regional Minister urges use of religious platforms to change environmental, sanitation practices
54 minutes -
Henry Kweku Banning
54 minutes -
Execution of US murderer Christa Pike halted an hour before it was due to happen
56 minutes -
GoldBod generates US$1.87bn in FX in September, exceeds monthly target
60 minutes