Treasury bills undersubscribed by GH¢1.70 billion away from the GH¢5.61 billion target

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.