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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.

SECURITIES BIDS TENDERED (GH¢) BIDS ACCEPTED (GH¢)
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

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