Treasury Rates for April 26th 2021

Security	Interest Rates
91 – Day Bill	12.7814%
182 – Day Bill	13.5753%
364 – Day Bill	16.5256%

The yield on the 182-day bill registered its first gain in 2021 in line with expectations of higher inflation figures as the local currency gradually erases some of its gains in the first quarter of the year. Demand for the government’s short-term papers also bounced back this week after sustaining weeks of weakened demand.

The yield on the 91-day bill extended its downward trajectory as it fell by 1 basis point (bps) to build on previous week’s 1 bps dip. It fell from 12.7949% posted last week to 12.7814% this week.

The 182-day bill recovered part of its previous losses as it climbed by 4 bps this week. It rose to 13.5753% from 13.5348% posted last week.

The yield on the 364-day bill rose by 8 bps this week to recover part of 13 bps dip suffered at its last issuance. It rose from 16.4456% to 16.5256% this week.

Week-on-Week Changes for 26^th April, 2021

Term	Previous	Current	Change	Percentage Change
91 – Day	12.7949%	12.7814%	-0.01	-0.1055%
182 – Day	13.5348%	13.5753%	0.04	0.2992%
364 – Day	16.4456%	16.5256%	0.08	0.4865%

Auction results from Bank of Ghana (BoG) tender 1742 showed that demand for the government’s short-term assets rose sharply after two weeks of failing to meet the government’s target amount.

A total of GHC 1,789.29 million worth of bids were tendered for the 91-day, 182-day, and 364-day bills against the government’s target amount of GHC 1,135.00 million. The government subsequently accepted only GHC 1,760.15 million worth of the bids tendered.

Next week, the government will be seeking to raise a total of GHC 673.00 million from 91-dayand 182-day bills.