T-bills auction: Interest rates fall again; government records 15.2% oversubscription

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Interest rates fell once again with an anticipated ease in December 2023 inflation.

According to auction results by the Bank of Ghana, demand for treasury bills surged.

The 91-day bill eased to 29.19%, from 29.24% the previous week.

The 182-day bill also went down by 14 basis points to 31.74%.

Again, the 364-day bill retreated to 32.34% from 32.48% previously.

With the Ghana Statistical Service set to announce December 2023 inflation this week, it is likely interest rates will go down further next week.

Meanwhile, the government got 15.24% more than the targeted amount of ¢2.837 billion.

The majority of the bids came from the 91-day bill. ¢2.143 billion tendered were all accepted.

It was followed by the 182-day bill in which ¢595.72 million were tendered. All the bids were accepted.

For the 364-day bill, 484.22 million of the bids were tendered. The uptake was 479.43 million.

SECURITIES	BIDS TENDERED (GH¢)	BIDS ACCEPTED (GH¢)
91 Day Bill	2.143 billion	2.143 billion
182 Day Bill	595.72 million	595.72 million
364 Day Bill	484.22 million	484.22 million
Total	3.223 billion	3.218 billion
Target	2.837 billion

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