The government secured GH¢3.91 billion away from the set target of GH¢5.61 billion.
Interest rates on treasury bills have continued to increase but the government keeps getting subscriptions even though it saw an undersubscription in last week’s auction.
Interest rates for the 365-day bill currently stands at 33.4%.
According to the latest auction results from the Bank of Ghana, interest rates for the 91-day and 182-day bills have increased to 29.56% and 31.76% respectively.
According to the Bank of Ghana results, all bids tendered in this week’s auction were not accepted.
The 91-day bill saw a total subscription of GH¢1.33 billion, GH¢722.99 billion was accepted from the 182-day bill and GH¢1.85 million was accepted from the 364-day bills.
The government has set its next auction target at GH¢3.919 billion.
Source: www.ghanaweb.com
