Government surpassed its treasury bill target by GH¢45.05 million in its latest auction on July 21, 2023.
The auction saw a total subscription of GH¢2.69 from the 91-day, 182-day, and 364-day bills.
The target for the auction was GH¢2.65 billion.
According to the results from the Bank of Ghana, interest rates have increased to 30.4% for the 364-day bill. Whereas from the 91-day and 182-day bills, interest rates have increased to 24.92% and 26.80% respectively.
Despite the rising interest rate all bids tendered were accepted.
The 91-day bill saw a total subscription of GH¢1.78 billion, GH¢356.97 million was accepted from the 182-day bill and GH¢557.07 million was accepted from the 364-day bill.
The government expects to borrow GH¢2.282 billion from its next auction.
SSD/NOQ
Watch the latest edition of BizTech and Biz Headlines below:
- Locked-up funds: 'Bawumia will top-up compensations if he wins 2024 elections' - Finance minister
- We pay cedi equivalent of duties calculated based on dollar rate – GUTA fires back at GRA
- Watch US-based Ghanaian share his personal experience investing in real estate business
- Cedi depreciation: Government must invest in food production – Dr. Atuahene
- The Chinese and other foreigners are gradually taking over our retail market – GUTA claims
- Read all related articles