Treasury Rates For September 2nd 2019

Treasury Rates For September 2^nd 2019

Period	Interest Rates
91 – Day	14.6777%
182 – Day	15.1379%

After weeks of a sluggish performance in short-term Government of Ghana Treasury bills, the yields on the 91-day and 182-day bills posted a mixed performance this week. Short-term Treasury bill rates in recent times have weakened to their lowest levels in four months despite an upward inflation expectations on the back of a sustained marginal depreciation of the local currency against some of its major trading partner currencies. Last month, data released by the Ghana Statistical Services indicated that the inflation rate unexpectedly rose from 9.1% in June to 9.4% in July.

The yield on the 91-day bill fell marginally from 14.6811% posted last week to 14.677% this week.

The yield on the 182-day bill was little changed this week as it rose marginally to 15.1379% this week from 15.1379% recorded last week.

 

Week on week changes for 2^nd September, 2019

	26-Aug-19	2-Sep-19	CHANGE	PERCENTAGE CHANGE
91 – Day	14.6811%	14.6777%	-0.0034	-0.0232%
182 – Day	15.1373%	15.1379%	0.0006	0.0040%

Auction results from Bank of Ghana (BoG) tender 1657 further showed that after weeks of a strong demand for short-term Treasury instruments, demand for the 91-day and 182-day bills failed to meet the government’s expectation.

Total bids tendered for both the 91-day and 182-day bills came in at GHC 467.19 million against the government’s target amount of GHC 641.00 million. All bid tendered were accepted.

Next week, the government is expected to increase its target amount to raise a total of GHC 966.00 million from 91-day, 182-day, and 364-day bills.