Treasury bill interest rates continue upward trend, currently at 32.8%

Interest rates for treasury bills are still increasing despite caution that this may make maturities expensive for the government.

The rates have been increasing for the greater part of the year.

Despite the high rates, the government has witnessed oversubscriptions in recent times except this week when it saw a slight undersubscription.

Interest rates are currently between 28.79% and 32.82%.

The government secured GH¢2.49 billion from its latest treasury bill auction held on September 29, 2023.

The results showed that the bills were undersubscribed marginally by GH¢70.12 million away from the set target of GH¢2.570 billion.

According to the results from the Bank of Ghana, all bids tendered in this week’s auction were accepted.

The target was however undersubscribed.

The 91-day bill saw a total subscription of GH¢1.88 billion, GH¢484.17 billion was accepted from the 182-day bill and GH¢131.16 million was accepted from the 364-day bills.

The government has set its next auction target at GH¢2.109 billion.

SSD/NOQ

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