{"id":1163640,"date":"2022-08-02T18:39:40","date_gmt":"2022-08-02T18:39:40","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/08\/02\/t-bills-oversubscribed-by-92-due-to-high-interest-rates\/"},"modified":"2022-08-02T18:39:40","modified_gmt":"2022-08-02T18:39:40","slug":"t-bills-oversubscribed-by-92-due-to-high-interest-rates","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/08\/02\/t-bills-oversubscribed-by-92-due-to-high-interest-rates\/","title":{"rendered":"T-bills oversubscribed by 92% due to high interest rates"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"td-post-featured-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"464\" class=\"entry-thumb\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/06\/Budget-2020-10-1-696x464.jpg\"   alt=\"\" title=\"Ken Ofori-Atta, Finance Minister\"\/><figcaption class=\"wp-caption-text\">Ken Ofori-Atta, Finance Minister<\/figcaption><\/figure>\n<\/div>\n<p>Government Treasury Bills were oversubscribed by about 92% for the 4<sup>th<\/sup> week running, as a result of the high-interest rates prevailing in the country.<\/p>\n<p>According to the latest auction by the Bank of Ghana, government secured \u00a21.083 billion.<\/p>\n<p>The high interest rates in the country have triggered investor interest in the short-term securities as liquidity continues to improve.<\/p>\n<p>However, the yields are still below the inflation rate of 29.8%.<\/p>\n<p>According to the auction, government accepted all the funds of \u00a21.08 billion tendered by the investors.<\/p>\n<p>This was after it fell short of achieving the target for the 3-year bond issued recently.\u00a0<\/p>\n<p>The target for the sale of the short-term securities was \u00a2564 million.<\/p>\n<p>Chunk of the funds, however, came from the 91-day T-bills, where \u00a2824.1 million was mobilized.<\/p>\n<p>\u00a2259.3 million was however obtained from the 6-months bill.<\/p>\n<p>Interest rate again remained relatively stable.<\/p>\n<p>For the 91-day T-bill, interest rate is going for 26.7%, compared with 26.3% the previous week.<\/p>\n<p>That of the 6 months bill is still hovering around 28%.<\/p>\n<figure class=\"wp-block-table\">\n<table>\n<tbody>\n<tr>\n<td\/><\/tr>\n<tr>\n<td><strong>Securities<\/strong><\/td>\n<td><strong>Bids Tendered (GH\u00a2)<\/strong><\/td>\n<td><strong>Bids Accepted (GH\u00a2)<\/strong><\/td>\n<td><strong>Interest rate<\/strong><\/td>\n<\/tr>\n<tr>\n<td>91 Day Bill<\/td>\n<td>\u00a0824.17 million<\/td>\n<td>\u00a0824.17 million<\/td>\n<td>26.7%<\/td>\n<\/tr>\n<tr>\n<td>182 Day Bill<\/td>\n<td>\u00a0259.38\u00a0million<\/td>\n<td>\u00a0259.38 million<\/td>\n<td>28.25%<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>Total<\/td>\n<td><strong>1.083 \u00a0billion<\/strong><\/td>\n<td>\u00a01.083 billion<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>Target<\/td>\n<td><strong>564 million<\/strong><\/td>\n<td\/>\n<td\/><\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n<p>            <!--  [embed]https:\/\/www.youtube.com\/watch?v=videoseries[\/embed]<!--\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>--><\/p>\n<div class=\"youtube-embed\" data-video_id=\"ossYmmFU0uI\"><iframe loading=\"lazy\" title=\"Commonwealth Games 2022: Team Ghana, we need medals and not personal best - Fire for Fire  (2-8-22)\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/ossYmmFU0uI?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ken Ofori-Atta, Finance Minister Government Treasury Bills were 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 \u00a21.083 billion. The high interest rates in the country have triggered investor interest in the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1125332,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[367,2158,4233,21997,1591,5082],"class_list":["post-1163640","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-due","tag-high","tag-interest","tag-oversubscribed","tag-rates","tag-tbills"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1163640","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1163640"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1163640\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1163640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1163640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1163640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}