Treasury Rates for August 24th 2020

Security	Interest Rates
91 – Day Bill	14.0367 %
182 – Day Bill	14.1110 %

Short-term Government of Ghana (GoG) Treasury bill rates was mixed this week as the yield on the 91-day bill rose to build on previous week’s increase whilst the yield on the 182-day bill declined from previous weeks’ rise.

The 91-day bill gained 3 basis points (bps) this week to build on previous week’s 2 bps gain in line with the recent pick up in the consumer price index reading. The yield on the 91-day bill rose from 14.0046% posted last week to 14.0367% this week, its highest in 3 months.

The 182-day bill declined marginally this week to end two weeks consecutive strengthening. It declined to 14.1110% this week from 14.1117% posted last week.

Week-on-Week Changes for 24^th August, 2020

	17-Aug-20	24-Aug-20	CHANGE	PERCENTAGE CHANGE
91 – Day	14.0046%	14.0367%	0.0321		0.2292%
182 – Day	14.1117%	14.1110%	-0.0007		-0.0050%

Auction results from Bank of Ghana (BoG) tender 1708 further showed that demand for the government’s short-term assets remained sluggish this week despite expectations that higher consumer prices will drive Treasury yields upwards.

A total of GHC 807.31 million bids were tendered for the 91-day and 182-day against the government’s target amount of GHC 1,137.00 million. The government subsequently accepted all bids tendered.

Next week, the government is expected to half its intended target amount to raise a total of GHC 577.00 million from 91-day and 182-day bills.