Government recorded a marginal oversubscription of treasury bills auction, as interest rates continued its upward trend on the money market.
According to the auction result by the Bank of Ghana, the government got about ¢2.34 billion.
The target for this auction was about ¢2.28 billion.
¢1.493 billion cedis were bids tendered for the 91-day bill. All the bids were subsequently accepted.
Also, the bids for the 182-day T-bills were estimated at about ¢503.58 million. Similarly, all the bids were accepted.
For the 364-day bill, about ¢345.14 million were gotten from the auction.
Meanwhile, interest rates on the 364-day bill went up by 0.26% to 30.30%.
The yield on the 91-day bill also went up to 25.24%, from the previous 24.92%. That of the 364-day bill however stood at 27.14%, higher than the earlier 26.80%.
The rising interest costs is a major concern as government will have to pay more for servicing the debt instrument.
SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
91 Day Bill | 1.493 billion | 1.493 billion |
182 Day Bill | 503.53 million | 503.53 million |
364 Day Bill | 345.14 million | 345.14 million |
Total | 2.342 billion | 2.342 billion |
Target | 2.282 billion | 2.282 billion |
Latest Stories
-
Sierra Leone energy minister resigns over electricity crisis, as power returns to capital
8 mins -
EC accuses Bright Simons, IMANI Africa of peddling falsehood
36 mins -
GRA/SML contract: Akufo-Addo has whitewashed the KPMG report – Inusah Fuseini
39 mins -
USM Alger receive warm welcome at Oujda Airport ahead of game against RS Berkane
1 hour -
2023/24 Ghana Hockey League to kick-off this weekend
2 hours -
All payments received from our contract with GRA are performance-based, says SML
2 hours -
Marrakech 2024: Ghana’s Zinabu Issah wins gold in women’s discus throw
2 hours -
Our contract with GRA followed due process; ignore contrary reports – SML
2 hours -
SML is just Agyapa in suit and tie – Bright Simons
3 hours -
Domelevo condemns selection of KPMG to audit GRA/SML contract as illegal and unprofessional
3 hours -
SML/GRA contract: OSP should have released its report by now – Inusah Fuseini
4 hours -
KPMG report exonerates us – SML
4 hours -
Works and Housing Ministry seeks lasting solutions to challenges with stakeholders engagement
4 hours -
President’s statement on GRA-SML contract underlines Fourth Estate’s revelation – MFWA
4 hours -
Our services are one of a kind, not done by NPA – SML insists
4 hours