T-bills: Government records marginal oversubscription as interest rates hit 29.95%

The government recorded a marginal oversubscription in its latest treasury bills auction on December 13, 2024.

The auction received a total of GH¢5.404 billion in bids on December 21, 2024.

According to results released on December 23, 2024, GH¢4.028.95 billion was secured for the 91-day bill. The government accepted GH¢867.34 million for the 182-day bill and GH¢508.61 million for the 365-day bill.

In comparison, the government raised a total of GH¢8.200.58 billion in the previous week's auction.

Interest rates for the latest auction were set at 27.85% for the 91-day bill, 28.57% for the 182-day bill, and 29.95% for the 365-day bill.

Treasury bills have become the government’s primary source of borrowing due to its lack of access to the international capital market.

Meanwhile, the government aims to borrow GH¢4.262 billion in this week's upcoming auction.

SSD/MA

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