Interest rates increased for the first time across the yield curve since January 1, 2024. According to auction results by the Bank of Ghana, the rates on the 91-day, 182-day and 364-day bills all shot up.
The yield on the 91-day bill went up by 9.0 basis points to 25.73%. That of the 182-day bill also rose to 28.22%, from the previous week’s 28.14%.
The 364-day bill also increased by 34 basis points to 28.83%.
Indeed, liquidity on the money market appears to be tightening following uncertainties regarding the government debt restructuring with Eurobond holders.
Meanwhile, the government failed to meet its T-bills target by 8.8%. It got GH¢2.560 billion as against a target of GH¢2.808 billion.
The 91-day bill was however the most patronised financial instrument. GH¢2.023 billion, representing 80.72% were tendered, and all were accepted.
This was followed by the 182-day bill in which GH¢ 417.58 million was tendered and the uptake was the same. The 364-day bill saw GH¢ 120.09 bids tendered. All the bids were accepted.
Source: Joy Business
Related Posts
- Advertisement -
- Advertisement -
