Government secures GH¢6.84 billion from treasury bills, interest rates at 30.99%

Government secured GH¢6.84 billion in its weekly treasury bill auction by the Bank of Ghana on February 9, 2024.

It surpassed the target of GH¢4.587 billion, which translated to an oversubscription of GH¢2.259 billion.

Last week, the government sold a total amount of GH¢4.527.

Meanwhile, interest rates have reduced marginally, hovering between 27.99% and 30.99%.

According to the latest auction results from the Bank of Ghana, interest rates for the 91-day and 182-day bills currently stand at 27.99% and 30.43% respectively.

For the 364-day bill, interest rates are 30.99%.

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¢2.931 billion, GH¢1.627 billion was accepted from the 182-day bill and GH¢2.287 million was accepted from the 364-day bills.

The government has set its next auction target at GH¢4.865 billion.

SSD/NOQ

Watch a recap of business stories below:



Ghana’s leading digital news platform, GhanaWeb, in conjunction with the Korle-Bu Teaching Hospital, is embarking on an aggressive campaign which is geared towards ensuring that parliament passes comprehensive legislation to guide organ harvesting, organ donation, and organ transplantation in the country.

Click here to follow the GhanaWeb Business WhatsApp channel