Interest rates ion T-bills soar
The government recorded a marginal over-subscription in its latest treasury bills auction.
According to its results, the government exceeded its target of GH¢4.010billion by GH¢65.2 million.
The sale of the short-term instruments resulted in a total sale of GH¢4.075 billion.
The auction on November 1, 2024, and issuance on November 4, 2024, secured GH¢3.327.46 billion for the 91-day bill.
However, the government accepted GH¢549.96 million for the 182-day bill and GH¢200.78 million for the 365-day bill.
Last week, the government sold a total of GH¢4.421.53 billion.
Interest rates were set at 26.56% for the 91-day bill, 27.58% for the 182-day bill, and 29.0% for the 365-day bill.
Treasury bills have become the government’s primary source of borrowing since it no longer has access to the international capital market.
Meanwhile, the government wants to borrow GH¢4.421.53 billion in this week’s auction.
SSD/MA
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