Government Treasury Bills were oversubscribed by about 92% for the 4th week running, as a result of the high-interest rates prevailing in the country.
According to the latest auction by the Bank of Ghana, government secured ¢1.083 billion.
The high interest rates in the country have triggered investor interest in the short-term securities as liquidity continues to improve.
However, the yields are still below the inflation rate of 29.8%.
According to the auction, government accepted all the funds of ¢1.08 billion tendered by the investors.
This was after it fell short of achieving the target for the 3-year bond issued recently.
The target for the sale of the short-term securities was ¢564 million.
Chunk of the funds, however, came from the 91-day T-bills, where ¢824.1 million was mobilized.
¢259.3 million was however obtained from the 6-months bill.
Interest rate again remained relatively stable.
For the 91-day T-bill, interest rate is going for 26.7%, compared with 26.3% the previous week.
That of the 6 months bill is still hovering around 28%.
| Securities | Bids Tendered (GH¢) | Bids Accepted (GH¢) | Interest rate |
| 91 Day Bill | 824.17 million | 824.17 million | 26.7% |
| 182 Day Bill | 259.38 million | 259.38 million | 28.25% |
| Total | 1.083 billion | 1.083 billion | |
| Target | 564 million |
