Interest rates for T-bills inch up to 33%, undersubscribed by 16%

Treasury bills were undersubscribed for the second week in October by 16%. Auctioning results from the Bank of Ghana from the tender held on 21st October for the government’s securities showed that T-bill was undersubscribed by GH¢260 million. The government secured a total of GH¢1,301 million from the sale of T-bills. The interest rate also inched up to 32% for the 91-day T-bill and 33% for the 182-day T-bill. Despite the increase in the interest rate, returns on T-bills still remain negative as inflation remains on the rise and currently stands at 37.2 as of September 2022. The increase in the interest rates further showed the increasing depreciation of the cedi against major foreign currencies. Watch the latest episode of BizTech below: SSD/FNOQ

Treasury bills were undersubscribed for the second week in October by 16%. Auctioning results from the Bank of Ghana from the tender held on 21st October for the government’s securities showed that T-bill was undersubscribed by GH¢260 million. The government secured a total of GH¢1,301 million from the sale of T-bills. The interest rate also inched up to 32% for the 91-day T-bill and 33% for the 182-day T-bill. Despite the increase in the interest rate, returns on T-bills still remain negative as inflation remains on the rise and currently stands at 37.2 as of September 2022. The increase in the interest rates further showed the increasing depreciation of the cedi against major foreign currencies. Watch the latest episode of BizTech below: SSD/FNOQ