Government Raises GH¢3.34 Billion as T-Bill Interest Rates Decline

The government has successfully secured GH¢3.34 billion in the latest treasury bill auction, benefiting from a continued decline in interest rates in the money market.

According to the Bank of Ghana’s auction results, investor interest remained steady as bids exceeded the targeted GH¢3.24 billion. Most bids, totalling GH¢2.51 billion, were for the 91-day bill, all of which were accepted by the government.

Additionally, bids totalling GH¢651.11 million were accepted for the 182-day bill, while all GH¢182.68 million bids for the 364-day bill were also received.

The auction’s total amount sold surpassed the target by 3%, reflecting robust investor confidence in government securities amidst competitive bidding. Analysts noted that average weekly interest rates ranged between 21% and 23%, indicating favourable market conditions and strong investor participation.

Source:newsghana.com.gh