• Home
  • Business
  • Sale of T-Bills dawdles as ¢686.4m secured from latest auctioning
Image

Sale of T-Bills dawdles as ¢686.4m secured from latest auctioning

Sale of Treasury bills has dawdled, despite being oversubscribed by 8.9%.

According to the recent auctioning by the Bank of Ghana, government secured a little above ¢686 million

This is coming a day after the 2-year Treasury bond was undersubscribed by about 15%.

There had been some fluctuations in the sale of the short-term securities for some time now. This could have compelled the government to lower the target for the auctioning to ¢630 million cedis.

But it secured a little above ¢686 million in the latest sale.

If the target perhaps has been increased, the government may have missed it. This goes to suggest that liquidity may have tighten on the interbank market or there may be inadequate cash in circulation.

On the other hand, some analysts are urging the government to up the interest rate if it is to attract higher investments.  

According to the auctioning results, government secured ¢475million from the sale of the 91-day T-Bills though it accepted ¢267.3 million.

For the 182-day T-Bills, it got ¢211.38 million.

The interest yield for both three months and six months bills however remained unchanged from the previous trading.  

SecuritiesBids Tendered (GH¢)Bids Accepted (GH¢)Interest rate
91 Day Bill475.08 million 267.32 million12.55%
182 Day Bill211.38 million 211.38.14 million13.37%
    
    
Total686.4 million686.4 million 
Target630 million

Releated Posts

Nigeria: Moghalu appointed Academy of International Affairs fellow

Professor Kingsley Moghalu, President of the Institute for Governance and Economic Transformation (IGET) and CEO of Sogato Strategies…

ByByInstinctBusinessMar 28, 2024

Kenya: DTB boosts dividend amid Sh6.8bn profit growth

Diamond Trust Bank (DTB) Group has raised its dividend payout to a record of Sh6 per share for…

ByByInstinctBusinessMar 28, 2024

Nigeria: Access Corporation Reports Record-Breaking N612.4 Billion Profit

Access Corporation, Nigeria’s leading finance holding company, has announced a remarkable achievement with a profit after tax of…

ByByInstinctBusinessMar 28, 2024

Ghana: Herbert Krapa named ECG’s new board chairman

President Nana Akufo-Addo has appointed Deputy Energy Minister, Herbert Krapa, as the new Board Chair of the Electricity…

ByByInstinctBusinessMar 27, 2024