Finance Minister Ken Ofori Atta

Government Treasury Bills was oversubscribed by about 92% for the 4th week running, as a result of the high-interest rates prevailing in the country.

According to the latest auction by the Bank of Ghana, government secured ¢1.083 billion.

The high interest rates in the country have triggered investor interest in the short-term securities as liquidity continues to improve.

However, the yields are still below the inflation rate of 29.8%.

According to the auction, government accepted all the funds of ¢1.08 billion tendered by the investors.

This was after it fell short of achieving the target for the 3-year bond issued recently. 

The target for the sale of the short-term securities was ¢564 million.

Chunk of the funds, however, came from the 91-day T-bills, where ¢824.1 million was mobilized.

¢259.3 million was however obtained from the 6-months bill.

Interest rate again remained relatively stable.

For the 91-day T-bill, interest rate is going for 26.7%, compared with 26.3% the previous week.

That of the 6 months bill is still hovering around 28%.

SecuritiesBids Tendered (GH¢)Bids Accepted (GH¢)Interest rate
91 Day Bill 824.17 million 824.17 million26.7%
182 Day Bill 259.38 million 259.38 million28.25%
    
    
    
Total1.083  billion 1.083 billion 
Target564 million