Treasury Rates For September 9th 2019

Treasury Rates For September 9^th 2019

Period	Interest Rates
91 – Day	14.6794%
182 – Day	15.1232%
364 – Day	17.9098%

Ahead of the announcement of the inflation rate for August, short-term Government of Ghana Treasury bill rates posted a mixed performance this week. The yields on the 91-day and 182-day bills have been on a downward trajectory in recent times, despite an upward inflation expectation on the back of continuous marginal depreciation of the local currency against some of its major trading partner currencies.

The yield on the 91-day bill ended three weeks of consecutive decline this week. It rose marginally from 14.6777% posted last week to 14.6794% this week.

After posting a marginal gain last week, the yield on the 182-day bill declined by a 1 basis point (bps) to 15.1232% this week from 15.1379% recorded last week.

The yield on the 364-day bill lost 1 bps this week to erase earlier gain as it fell from 17.9203% to 17.9098% this week.

 

Week on week changes for 9^th September, 2019

	2-Sep-19	9-Sep-19	CHANGE	PERCENTAGE CHANGE
91 – Day	14.6777%	14.6794%	0.0017	0.0116%
182 – Day	15.1379%	15.1232%	-0.0147	-0.0971%

Auction results from Bank of Ghana (BoG) tender 1658 further showed that demand for the government’s short-term Treasury instruments rose to beat the target amount as concerns surrounding the thrift sector remains unsettled.

Total bids tendered for both the 91-day, 182-day, and 364-day bills came in at GHC 1,024.30 million against the government’s target amount of GHC 966.00 million. All bids tendered were accepted.

Next week, the government is expected to reduce its target amount to raise a total of GHC 723.00 million from 91-day and 182-day bills.