In its most recent auction on November 3, 2023, the government successfully secured GH¢2.693.23 billion, surpassing the target of GH¢2.152 billion by GH¢541.23 billion.
Interest rates on treasury bills have continued to rise for the 36th consecutive time this year, with the 365-day bill reaching 33.7%.
Meanwhile, the 91-day bill and the 182-day bill have seen interest rates rise to 29.96% and 32.1%, respectively.
Despite concerns about the government’s ability to meet maturities, the International Monetary Fund has noted that the rates are within an acceptable range and are still lower than the current inflation rate of 38.1%.
According to the Bank of Ghana’s auction results, not all bids submitted in this week’s auction were accepted.
The 91-day bill received total subscriptions of GH¢2.02 billion, GH¢439.28 billion was accepted from the 182-day bill, and GH¢233.69 million was accepted from the 364-day bills.
The government has set its next auction target at GH¢3.105 billion.