Finance Minister Ken Ofori Atta
Government Treasury Bills was oversubscribed by about 92% for the 4th week running, as a result of the high-interest rates prevailing in the country.
According to the latest auction by the Bank of Ghana, government secured ¢1.083 billion.
The high interest rates in the country have triggered investor interest in the short-term securities as liquidity continues to improve.
However, the yields are still below the inflation rate of 29.8%.
According to the auction, government accepted all the funds of ¢1.08 billion tendered by the investors.
This was after it fell short of achieving the target for the 3-year bond issued recently.
The target for the sale of the short-term securities was ¢564 million.
Chunk of the funds, however, came from the 91-day T-bills, where ¢824.1 million was mobilized.
¢259.3 million was however obtained from the 6-months bill.
Interest rate again remained relatively stable.
For the 91-day T-bill, interest rate is going for 26.7%, compared with 26.3% the previous week.
That of the 6 months bill is still hovering around 28%.
|Securities||Bids Tendered (GH¢)||Bids Accepted (GH¢)||Interest rate|
|91 Day Bill||824.17 million||824.17 million||26.7%|
|182 Day Bill||259.38 million||259.38 million||28.25%|
|Total||1.083 billion||1.083 billion|