Audio By Carbonatix
The government missed its ambitious treasury bills target by 16.81%.
According to the auction results by the Bank of Ghana, the government secured GH¢5.180 billion as against a target of GH¢6.228 billion.
This auction is coming after a private legal practitioner filed an application at the Supreme Court to stop the government from issuing T-bills.
The results showed that all the bids were accepted.
The majority of the bids came from the 91-day bill where GH¢3.942 billion, representing 76.1% of the total bids were tendered.
About GH¢653.43 million were however tendered for the 182-day bill.
Similarly, the 364-day bill saw an offer of a little over GH¢584 million.
Meantime, interest rates went up for the fourth consecutive week.
However, the rising interest rates will increase the cost of servicing the domestic instruments.
The yield on the 91-day bill was up 14 basis points to 26.96%.
Equally, the interest rate on the 182-day bill increased to 27.78% from 27.67% the previous week.
That of the 364-day bill was also up by 3 basis points to 29.21%.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 3.942bn | 3,942bn |
| 182 Day Bill | 653.43m | 653.43m |
| 364 Day Bill | 584.16m | 584.16m |
| Total | 5.180bn | |
| Target | 6.228bn | |
Latest Stories
-
NACOC addressing inherited gaps in fight against drug trafficking – Deputy Director-General
12 minutes -
Taekwondo goes to school as GTF launches five-region youth campaign
15 minutes -
The issues Mourinho is struggling to fix at Real Madrid
22 minutes -
Hundreds throng EducationUSA College Fair in Kumasi in pursuit of abroad studies
25 minutes -
Drug bust: NACOC should be part of port inspection team – Twum-Barimah
28 minutes -
Ward appointed Liverpool’s sporting director
28 minutes -
This isn’t the first cocaine bust; NPP must stop the politicisation – NACOC deputy boss
32 minutes -
Drug bust case: Only Customs officers, MPS officials in scanning room – NACOC
2 hours -
I don’t mind being insulted; I have a crocodile skin – President Mahama
2 hours -
Samson’s Take: Verify the badge – and verify the story
2 hours -
President Mahama explains why Ghana must rethink regulation of TikTok, other new media platforms
2 hours -
Rule of law must be protected – GBA condemns EOCO action against Baffour Awuah
4 hours -
950,000 barrels of Sankofa crude head to TOR as GNPC deepens domestic refining
4 hours -
Scales of deception removed – Annoh-Dompreh attacks new cocoa price
4 hours -
Young Positivist Writes : My Experience with GCLP
5 hours