T-bills auction: Government secures GHC5.36bn as interest rates continue to fall

Interest rates have fallen again despite the surge in the demand for treasury bills, according to the Bank of Ghana's latest auction results.

The interest rates fell reflecting lower inflation and the elevated risks as projected by analysts and economic institutions.

This is the eleventh consecutive time the interest rates have fallen.

The yield on the 91-day bill eased marginally from 26.74 percent to 26.50 percent. That of the 182-day slightly went down to 29 percent from 29.24 percent the previous week.

Again, interest rate for the 364-day bill fell from 29.85 percent to 29.60 percent.

Interestingly, there was a 38 percent oversubscription of the bids tendered after the government secured GH¢5.36 billion from the auction despite the target of GH¢ 3.89 billion.

A chunk of the auction came from the 91-day bill, where all the GH¢3.728 billion tendered was accepted.

For the 182-day bill, about GH¢1.078 billion was tendered out of which GH¢1.067 billion was accepted with all the GH¢574.31 for the 364-day bill being accepted.

-citinewsroom