Interest rates went up for the 36th week running as the increasing cost of borrowing will bite the government in the future.
The yield on the 91-day T-bill went up to 29.96% from the prior week of 29.81%.
That of the 182-day bill increased by 47 basis points to 32.14%.
For the 364-day bill, it also surged to 33.70% from 33.42% the preceding week.
The rising interest rates may bite the government as interest payments will shoot up.
Meanwhile, the government recorded 33.01% oversubscription of the T-bills sale to the tune of ¢2.86 billion, according to the auction results by the Bank of Ghana.
The total subscription was higher than the previous week’s ¢2.58 billion
The government accepted ¢2.69 billion of the total bids tendered for the auction.
The majority of the bids came from the 91-day bill. This was to the tune of ¢2.033 billion, representing about 65.7% of the total bids.
For the 182-day bill, about ¢517 million were tendered. The government, however, accepted ¢439 million. About ¢311.21 million were, however, tendered for the one-year bill, but the government accepted ¢233 million.
| SECURITIES | BIDS TENDERED (GH¢) | BIDS ACCEPTED (GH¢) |
| 91 Day Bill | 2.033 billion | 2.020 billion |
| 182 Day Bill | 517.49 million | 439.28 million |
| 364 Day Bill | 311.21 million | 233 million |
| Total | 2.862 billion | 2692 billion |
| Target | 2.152 billion | |
Source: Myjoyonline