In its latest auction on July 21, 2023, the government exceeded its treasury bill target by GH¢45.05 million.
The total subscription for the 91-day, 182-day, and 364-day bills amounted to GH¢2.69 billion, surpassing the auction’s target of GH¢2.65 billion.
The results from the Bank of Ghana indicate an increase in interest rates for the 364-day bill, reaching 30.4%. Similarly, the 91-day and 182-day bills saw interest rates rise to 24.92% and 26.80%, respectively.
Despite the higher interest rates, all bids tendered were accepted. Specifically, GH¢1.78 billion was accepted from the 91-day bill, GH¢356.97 million from the 182-day bill, and GH¢557.07 million from the 364-day bill.
Looking ahead, the government is planning to borrow GH¢2.282 billion from its next auction.