Interest rate for 364-day bill hits 33.7% as T-Bills oversubscribed by GHS 540m

The 91, 182, and 364-day treasury bills auctioned by the Bank of Ghana (BoG) on behalf of the government, saw some GHS 2,692 million mobilised as credit from investors to the government.

The secured GHS 2,692 million was against a programmed auction target of GHS 2,152 million.

Government, in accepting the GHS 2,692 million bids tendered, exceeded its target by GHS 540 million.

A total of GHS 2,033m and GHS 517m bids were tendered for the 91 day and 182 day with the government accepting bids amounting to GHS 2,020m and GHS 439m respectively.

For the 364-day bill, a total of GHS 311m was tendered with the government accepting bids worth GHS 233m tendered for the debt security.

This, however, came at an increased cost to the government in the form of higher interest rates.

Interest rates on the 91, 182 and 364-day T-Bills were 29.9%, 32.1%, and 33.7% respectively.

Meanwhile, in the upcoming issuance of the 91-day, 182-day, and 364-day treasury bills on November 10, 2023, Government will be seeking to secure some GHS 3,105m in fresh funding to meet its short-term financing needs.