Government secures GH¢4.52 billion from treasury bills, interest rates at 31.39%

Government’s weekly treasury bill auction by the Bank of Ghana garnered GH¢4.527billion in this week’s auction on February 2, 2024.

Surpassing the target of GH¢2.861 billion, the bills were oversubscribed by GH¢1.666 billion.

Last week, the government sold a total amount of GH¢5.495 after it set a target of GH¢2.532 billion.

Meanwhile, interest rates have reduced marginally high, hovering between 28.29% and 31.39%.

According to the latest auction results from the Bank of Ghana, interest rates for the 91-day and 182-day bills currently stand at 28.29% and 31.79% respectively.

For the 364-day bill, interest rates are 31.39%.

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¢1.914 billion, GH¢1.211 billion was accepted from the 182-day bill and GH¢1.402 million was accepted from the 364-day bills.

The government has set its next auction target at GH¢4.587 billion.

SSD/NOQ

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