Interest rates on Treasury bills are still soaring amid concerns that this would make government maturities unaffordable.
The rates have been rising for the majority of the year, according to information reaching us at 1Family Radio.
The government has seen oversubscription recently despite the high rates, with the exception of this week, when it saw a tiny undersubscription.
Currently, interest rates range from 28.79% to 32.82%.
On September 29, 2023, the government hosted its most recent treasury bill auction, which netted it GH2.49 billion.
The figures revealed that, in comparison to the aim of GH2.570 billion, the bills were only barely undersubscribed by GH70.12 million.
The Bank of Ghana’s results show that every offer submitted during this week’s auction was accepted. But the aim received insufficient interest.
A total of GH1.88 billion was subscribed for the 91-day bill, GH484.17 billion for the 182-day bill, and GH131.16 million for the 364-day bills.
The next auction’s target price has been established by the government at GH2.109 billion.
Source: 1Familyradio