Treasury Rates for May 10th 2021

Security	Interest Rates
91 – Day Bill	12.7898%
182 – Day Bill	13.5707%

Short-term Government of Ghana Treasury yields were mixed this week as the 91-day bill fell to erase its tiny gain posted last week whilst the 182-day gained momentum recovering from its loss registered last week. The continued and sustained sharp fall in the government’s short-term Treasury assets has slowed down in the second quarter as compared to the first quarter on expectations of higher inflationary outlook for the remainder of the year.

The yield on the 91-day bill declined by 1 basis point (bps) this week to erase previous week’s 1 bps gain. It fell to 12.7898% this week from 12.7949% registered last week.

After sustaining a 4 bps dip last week, the yield on the 182-day rose by 4 bps. It tightened from 13.5348% posted last week to 13.5707% this week.

Week-on-Week Changes for 10^th May, 2021

Term	Previous	Current	Change	Percentage Change	Year-to-Date
91 – Day	12.7949%	12.7898%	-0.01%	-0.04%	-9.26%
182 – Day	13.5348%	13.5707%	0.04%	0.27%	-4.09%

Auction results from Bank of Ghana (BoG) tender 1745 showed that the Government was forced to accept all bids tendered as demand was woefully inadequate to meet the government’s target amount.

A total of GHC 913.25 million worth of bids were tendered for the 91-day and 182-day bills against the government’s target amount of GHC 1,142.00 million.

Next week, the government will be seeking to raise a total of GHC 1,278.00 million from 91-day, 182-day, and 364-day bills.