T-bills: Government meets target with slight oversubscription as interest rates soar to 29.25%

The government’s latest treasury bill auction recorded a marginal oversubscription of GH¢97.32 million as it surpassed its target of GH¢2.20 billion.

It recorded a total of GH¢2.29 billion from the 91-day, 182-day, and 364-day bills.

Interest rates have been increasing for the past few months after it dropped to 18%.

Currently, the interest rates range between 22.97% to 29.25%.

The rates for the 91-day bill increased from 21.69% to 22.97%, and for the 182-day bill, it increased from 24.97% to 25.44%.

For the 364-day bills, it increased from 28.91% to 29.25%.

According to the auction results from the Central Bank, the government secured GH¢1.86 billion from the 91-day bill, GH¢304.16 million from the 182-day bill, and GH¢112.60 million from the 364-day bill.

SSD/FNOQ