Government earns GH2.79 billion this week through the sale of treasury notes in its most recent auction on June 12, 2023.

The auction saw an oversubscription of GH¢168.53 million even though interest rates have been rising.

The target for this week’s auction was GH¢2.63 billion. Also, interest rates have increased to an average of between 21.26% to 27.82%.

According to the auction results from the Central Bank, the government secured GH¢1.50 billion from the 91-day bill, GH¢982.71 million from the 182-day bill, and GH¢308.36 million from the 364-day bill.

Interest rates, however, increased from 20.25% to 21.26% for the 91-day bill, 22.82% to 23.95% for the 182-day bill, and 27.36 to 27.82 for the 364-day bill.