The federal government recorded an astonishing 190.12% oversubscription of treasury payments to the tune of GH¢20.9 billion.
It, nonetheless, accepted GH¢10.64 billion of the bids as in opposition to a goal of GH¢5.43 billion
That is the primary time in two months that the federal government has registered an oversubscription of the short-term instrument, however in grand type.
Many analysts consider that the current inflows from the Worldwide Financial Fund and the World Financial institution contributed to the rising investor curiosity within the short-term devices.
An enormous GH¢13.77 billion, representing 65.6% of the full bids, was tendered for the 91-day invoice. The Treasury, nonetheless, accepted GH¢5.64 billion of the bids.
For the 182-day invoice, GH¢4.22 billion of the bids had been tendered. The uptake was GH¢ 2.98 billion.
Somewhat over GH¢2.98 billion was tendered for the 364-day invoice, however the authorities took GH¢2.00 billion of the bids.
In the meantime, rates of interest plummeted on the yield curve, signaling a coverage charge reduce on this week’s Financial Coverage Committee assembly.
The yield on the 91-day invoice went down by 97 foundation factors to 13.72%.
That of the 182-day invoice additionally declined to 14.61% from 15.02%.
The yield on the 364-day invoice additionally fell by 68 foundation factors to 14.73%.
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DISCLAIMER: The Views, Feedback, Opinions, Contributions and Statements made by Readers and Contributors on this platform don’t essentially signify the views or coverage of Multimedia Group Restricted.
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