The most recent Treasury bill auction saw interest rates drop to 15% as demand for the short-term securities decreased.

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

Interest rates subsided to 15% in the latest Treasury bill auction as demand for the short-term instruments declined.   

The yield on the 91-day T-bill fell by 185 basis points to 15.85%. Similarly, that of the 182-day bill also nosedived to 16.92% from 18.96% the previous week.

The rate on the 364-day bill also fell to 18.96%. Meanwhile, the government recorded a 12.28% oversubscription of the T-bills.

It got GH¢9.27 billion from the sale of the T-bills against a target of GH¢8.260 billion. The Treasury accepted GH¢8.77 billion of the bids tendered.

The 91-day bill received the highest bids worth GH¢6.22 billion.

All were accepted. For the 182-day bill, GH¢1.833 billion was tendered. About GH¢1.803 billion was accepted.

Source: newsthemegh.com