Treasury bill

The government recorded a 19.75% oversubscription of treasury bills barely a week after President Mahama won the presidential elections. According to the Bank of Ghana’s T-bill auction results, demand for the short-term instruments soared following successful general elections. The government got GH¢8.20 billion from selling the short-term instruments. All the bids were accepted. A little over GH¢6.740 billion were secured from the 91-day bill, representing 82.1% of the total bids. For the 182-day bill, GH¢951.67 million were tendered. The 364-day bill also recorded GH¢508.15 million from the sale of the 364-day bill. Meanwhile, interest rates neared the 30% mark. The…

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…