Finance

Treasury bills oversubscribed by GH¢588 million, interest rates at 35.9%

Treasury bills

For the past few weeks, interest rates have remained stable as treasury bills continue to witness oversubscription.

The oversubscription has been attributed to the exclusion of treasury bills from the debt exchange programme.

The government exceeded its target of GH¢1,125 million in its latest auction on January 13, 2022.

The results showed that GH¢1.72 billion was accepted from the 91-day, 182-day, and 364-day bills an excess of GH¢588 million from the stated target.

The yield on the 91-day T-bill was GH¢1,478.84 at an interest rate of 35.46%, out of the GH¢198.49 tendered for the 182-day bill everything was accepted at an interest rate of 35.83%.

For the 364-day T-bill, the government secured ¢43.34 million but accepted ¢36.08 million of the bids tendered. The interest rate for the instrument was however 35.91%.

Meanwhile, despite the high-interest rate, the current inflation rate of 54% means that the returns on the yields are still negative.

The government however expects to raise GH¢2,415 million in this week’s auction.

 

Source: www.ghanaweb.com

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

Related Articles

Back to top button