Treasury Rates For October 28th 2019

Period	Interest Rates
91 – Day	14.6850%
182 – Day	15.1398%

Short-term Government of Ghana (GoG) Treasury bill rates posted a mixed performance this week whilst maintaining its stable performance. The yields on both the 91-day and 182-day bills have maintained a stable trajectory from the start of the second half of the year as the rate of inflation has remained within the Bank of Ghana’s medium-term inflation target band.

The 91-day bill fell marginally this week to build on previous week’s dip. It fell from 14.6907% posted last week to 14.6850% this week.

The yield on the 182-day bill ended two weeks of losses this week as it gained 2 basis points (bps) this week, its biggest gain in more than five months. It rose to 15.1398% from 15.1185% recorded last week.

Week on week changes for 28^th October, 2019

	21-Oct-19	28-Oct-19	CHANGE	PERCENTAGE CHANGE
91 – Day	14.6907%	14.6850%	-0.0057	-0.0388%
182 – Day	15.1185%	15.1398%	0.0213	0.1409%

Auction results from Bank of Ghana (BoG) tender 1665 further showed that demand for the government’s short-term securities rose to beat the target amount as investors continue to seek solace in government securities.

Total bids tendered for the 91-day and 182-day bills came in at GHC 816.07 million against the government’s target amount of GHC 762.00 million. All bids tendered were subsequently accepted.

Next week, the government is expected to drastically cut its target amount to raise a total of GHC 491.00 million from 91-day and 182-day bills.

2019 91-Day and 182-Day Bills Trend