21st November 2022 2:45:06 PM
1 min readAfter 5 weeks in a row of under-subscription, the Ghanaian government has now reached its goal for the weekly Treasury bill auction.
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Interest rates are getting close to 36%, and as of October 2022, inflation will reach 40.4%.
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The findings revealed that GH1,381 million in bids from the 91-day Treasury bill and GH274.99 from the 182-day Bill were accepted.
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For the 91-day and 182-day treasuries, the interest rates were 35.1% and 35.9%, respectively.
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$1,1168 million was the desired price for the auction.
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Due to the rising rate of inflation and the depreciation of the cedi, the returns on treasury notes continue to be negative despite the skyrocketing interest rates.
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Nevertheless, comparing this week’s auction to that of last week, the bills performed slightly. This may show an increase in investor confidence in the country’s financial instruments.
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