Despite increasing interest rates, the government’s latest treasury bills auction saw an oversubscription of 19.58%.
The auction raked in a total of GH¢2.13 billion from the 91-day and the 182-day bills.
The results from the Bank of Ghana showed that all the bills tendered during the auction were accepted.
Interest rates have risen to 24.68% for the 91-day bill and 26.4% for the 182-day bill.
The target for the auction was GH¢1.778 billion.
Meanwhile, no bids were tendered for the 364-day bills.
The 91-day bill accepted bids worth GH¢1.81 billion whiles the 182-day bill accepted GH¢313.59 million.
However, the government has set an ambitious target of GH¢2.664 billion for its next auction despite rising interest rates.
Source: www.ghanaweb.com
