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T-bills Auction: Interest Rates Fall For 9th Consecutive Week To 26.9%; Government Records 19% Oversubscription
Interest rates fell for the 9th consecutive week running in line with analysts’ forecasts.
According to the auction results by the Bank of Ghana, the 91-day T-bill eased by 83 basis to 26.99%.
Similarly, the 182-day bill also went down to 29.49% from the previous 29.74%.
Again, the 364-day bill declined by 29 basis points to 30.0%.
Based on the happenings since the beginning of the year, the rates are expected to go down further this week.
Meanwhile, the government recorded about 19.9% percent oversubscription of the treasury bills auction, as demand for the short-term instruments remained high.
The total bids tendered by the investors were estimated at GH¢4.963 billion. The uptake was estimated at GH¢4.940 billion.
Chunk of the bids this time around came from the 6-month bill. The uptake was GH¢1.843 billion.
It was followed by the 91-day bill in which GH¢1.833 billion of the bids were tendered. All were accepted.
About GH¢1.263 billion of the bids came from the 364-day bill. Once more, all the bids were accepted.
Credit: Joy Business
