T-bills: Interest rates tumbled again; government records 17% oversubscription

Interest rates tumbled again as the government returned to oversubscription of treasury bills sale.

According to the auction results by the Bank of Ghana, the yield on the 91-day bill eased by 10 basis points to 25.44%.

That of the 182-day bill also went down to 27.39% from the previous 27.64%.

The 364-day bill also fell by 21 basis points to 27.99%.

Based on the current happenings, interest rates will continue to decline since inflation has gone down significantly by more than 17% from a a high of 43.1% in July 2023.

Meanwhile, the government recorded 17.06% oversubscription of the T-bills sale. It secured GH¢3.46 billion, as against a target of GH¢2.960 billion.

The 91-day bill constituted the highest of GH¢2.01 billion, representing about 58% of the total bids.

It was followed by the 182-day bill. GH¢1.139 billion was tendered and the uptake was GH¢1.139 billion.

For the 364-day bill, GH¢315.20 million was received.