https://www.myjoyonline.com/t-bills-auction-interest-rates-return-to-upward-trajectory-government-misses-target-by-30/-------https://www.myjoyonline.com/t-bills-auction-interest-rates-return-to-upward-trajectory-government-misses-target-by-30/

Interest rates returned to upward trajectory for the first time in a month, as the government continued to borrow heavily on the money market to finance its expenditure.

According to auction results by the Bank of Ghana, the rate on the 91-day T-bill went up marginally to 29.56% from the previous week’s 29.49%.

That of the 182-day bill also surged to 31.76% from the preceding week’s 31.75%.

The one-year bill also increased by 21 basis points to 33.44%.

Meanwhile, the government accepted all the bids for the treasury bills tendered to the tune of ¢3.917 billion.

Its ambitious target of ¢5.618 billion, however, fell short by 30.27%.

For the second time in a year, the 364-day bill was the most subscribed.  About ¢1.854 billion worth of bids were tendered which the government accepted all.

It was followed by the 91-day T-bill in which ¢1.33 billion were accepted.

The 182-day bill witnessed a subscription of ¢722.99 million.

The treasury market is presently the only source of financing for the government as the bond and external debt markets have been shut down for now. This is due to the debt restructuring the government is undertaking.

SECURITIESBIDS TENDERED (GH¢)BIDS ACCEPTED (GH¢)
91-Day Bill1.339 billion1.339 billion
182-Day Bill722.99 million722.99 million
364-Day Bill1.854 billion1.854 billion
   
Total3.917 billion3.917 billion
Target5.618 billion5.618 billion
   

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.



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