Interest rates surged for the 5th month running despite government recording 25.7% oversubscription of treasury bills auction.
According to auction results from the Bank of Ghana, total bids tendered for the short term securities were estimated at about ¢3.25 billion.
The government however accepted about ¢3.09 billion of the total bids.
According to the figures from the Central Bank, ¢2.143 billion of the total bids came from the 91-day bill, but the government accepted 2.114 billion.
For the 182-day bill, the bids tendered were estimated at ¢674.64 million.
However, the government accepted about ¢548.72 million.
All of the ¢433.28 million offered for 364-day bill were accepted by the government.
Meanwhile, interest rates on the 364-day bill shot up by 0.33% to 32.50%.
The 91-day bill also went up to 28.50% from the 28.12% the previous week. That of the 182-day bill also reached 30.67%, from 29.93% previously.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91-Day Bill | 2.143 billion | 2.114 billion |
| 182-Day Bill | 674.64 million | 548.72 million |
| 364-Day Bill | 433.28 | 433.28 |
| Total | 3.251 billion | 3.096 billion |
| Target | 2.585 billion | |