Government Raises Approximately GHS3 Billion from T-Bills; Interest Rates Remain Steady
Written by GliveRadio Accra on July 1, 2024
The government successfully raised GHS 2.99 billion from the treasury bills market at its latest auction, surpassing its target of GHS 2.65 billion.
This oversubscription occurred as interest rates remained stable across the yield curve, indicating a slight increase in demand for these short-term instruments.
The majority of bids, totaling GHS 2.36 billion, were for the 91-day T-bills, with the same amount being taken up.
GHS 573 million was tendered for the 182-day bill, and all bids were accepted.
For the 364-day bill, GHS 64 million was tendered, and all bids were accepted as well.
Interest rates for all tenors remained unchanged:
- The three-month bill maintained its rate at 24.87%.
- The six-month bill remained at 26.8%.
- The one-year T-bill stayed steady at 27.78%.