The government secured GH¢3.218.94 billion in its latest auction on January 5, 2023.
The bills were oversubscribed by GH¢381.94, surpassing the week’s target of GH¢2.837 billion.
For the greater part of 2023, interest rates kept increasing to over 33% for the 365-day bill.
According to the latest auction results from the Bank of Ghana, interest rates for the 91-day and 182-day bills are currently standing at 29.19% and 31.74% respectively. Currently, inflation stands at 38.1%.
Ghana’s interest rate is still the highest in Africa standing at about 32%.
According to the Bank of Ghana results, all bids tendered in this week’s auction were not accepted.
The 91-day bill saw a total subscription of GH¢2.14 billion, GH¢595.72 billion was accepted from the 182-day bill and GH¢479.43 million was accepted from the 364-day bills.
The government has set its next auction target at GH¢2.63 billion.
SSD/NOQ
Watch a recap of business stories below:
- MoMo transactions increase to GH¢1.91 trillion in 2023 - Report
- Delays in rolling out Planting for Food and Jobs 2.0 risk worsening food insecurity - Farmers
- New ship repair dock project at Takoradi port funding sealed as financiers sign US$94m syndicated loan
- Long-term industrial vision will drive africa’s transformation – Prof. Boateng
- AGI endorses Ghana going nuclear, calls for macroeconomic stability
- Read all related articles