19.8 C
Tuesday, July 16, 2024

Interest rates tumbled to 24.85%; government’s target fell short by 1.35% –

Interest rates tumbled once again across the yield curve, in line with falling inflation.

The 91-day yield eased to 24.85% from the prior week’s 25.03%.

That of the 182-day also went down by 9.0 basis points to 26.82%.

Similarly, the 182-day bill also declined to 27.81% from the earlier 27.92%.

Meanwhile, the government recorded 1.35% oversubscription of the T-bills sale, far lower than the 19.4% recorded the preceding week.

It got a total of GH¢4.833 billion, as against a target of GH¢4.900 billion.

A chunk of the bids came from the 91-day bill.

About GH¢3.76 billion was mobilised, representing 77.9% of the total bids. The uptake was the same as the bids tendered.

Similarly, GH¢924 million came from the 182-day bill. All the bids were accepted.

For the 364-day bill, GH¢142.07 million of the bids were tendered and all were accepted.

91 Day Bill 3.767 billion 3.767 billion
182 Day Bill 924.19 million 924.19 million
364 Day Bill 142.07 million 142.07 million
Total 4.833 billion  
Target 4.900 billion  

SourceJoy Business

Latest news
Related news