Treasury Rates for April 27th 2020

Period	Interest Rates
91 – Day	14.0251 %
182 – Day	14.0317 %
364 – Day	16.7395 %

After weeks of maintaining a downward trajectory, both the 91-day and 364-day bills this week picked up marginally to recover some portions of its recent declines. The 364-day bill, however, failed to build on its previous week gain.

The 91-day bill posted its first rise in 6 weeks as it climbed by 16 basis points (bps) this week against previous week’s decline of 2 bps. It rose from 13.8573% posted last week to 14.0251% this week.

The yield on the 182-day bill gained 4 bps this week to recover part of previous week’s 13 bps drop. It rose to 14.0317% this week from 13.9868% posted last week.

The 364-day bill fell by 4 bps to 16.7395% this week from 16.7857% at its last issuance.

Week-on-Week Changes for 27^th April, 2020

	20-Apr-20	27-Apr-20	CHANGE	PERCENTAGE CHANGE
91 – Day	13.8573%	14.0251%	0.1678	1.2109%
182 – Day	13.9868%	14.0317%	0.0449	0.3210%

Auction results from Bank of Ghana (BoG) tender 1691 further showed that the demand for short-term GoG bills narrowly missed the government’s target amount after several weeks of high demand.

A total of GHC 1,146.57 million bids were tendered for the 91-day, 182-day, and 364-day bills, against the government’s target amount of GHC 1,208.00 million. The government, however, accepted only GHC 1,134.85 million of the total bids tendered.

Next week, the government is expected to half its target amount to raise a total amount of GHC 603.00 million from 91-day and 182-day bills.