T-bills Auction: Government Achieves 25% Oversubscription
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.
Myjoyonline
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