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Saturday, March 2, 2024

Government secures GH¢6.84 billion from treasury bills, interest rates at 30.99% –

Government secured GH¢6.84 billion in its weekly treasury bill auction by the Bank of Ghana on February 9, 2024.

It surpassed the target of GH¢4.587 billion, which translated to an oversubscription of GH¢2.259 billion.

Last week, the government sold a total amount of GH¢4.527.

Meanwhile, interest rates have reduced marginally, hovering between 27.99% and 30.99%.

According to the latest auction results from the Bank of Ghana, interest rates for the 91-day and 182-day bills currently stand at 27.99% and 30.43% respectively.

For the 364-day bill, interest rates are 30.99%.

Currently, inflation stands at 23.2% signalling some gains for investors.

According to the Bank of Ghana results, all bids tendered in this week’s auction were accepted.

The 91-day bill saw a total subscription of GH¢2.931 billion, GH¢1.627 billion was accepted from the 182-day bill and GH¢2.287 million was accepted from the 364-day bills.

The government has set its next auction target at GH¢4.865 billion.

SSD/NOQ

Source: www.ghanaweb.com

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