• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Strong demand for T-bills as auction is oversubscribed by 121.64%

3 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News, Maritime, Markets
1 min read
0 0
0
129
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Strong demand for T-bills as auction is oversubscribed by 121.64%

Ghana’s latest Treasury bills auction has shown that the demand for T-bills remains strong, with the auction being oversubscribed by an impressive 121.64%.

The Bank of Ghana’s auction of T-bills worth GH¢2,776.00 million, which was held on a competitive basis, saw accepted bids worth GH¢4,525.50 million being distributed across the three tenors: GH¢1,476.78 million for 91-Day bills, GH¢1,166.70 million for 182-Day bills, and GH¢1,882.02 million for 364-Day bills.

The acceptance rate of 73.55% indicates that not all bids were accepted, which could be due to the high demand for T-bills in Ghana. The acceptance rate could also be influenced by the Bank of Ghana’s strategy to limit the size of accepted bids to avoid putting undue pressure on the country’s financial system.

One noteworthy aspect of the auction results is the significant decline in yields on the T-bills compared to the previous auction. The 91-Day, 182-Day, and 364-Day bills recorded declines of 1139 basis points (bps), 900 bps, and 667 bps, respectively, to settle at 24.16%, 26.56%, and 27.54%. This suggests that the Bank of Ghana is attempting to lower the cost of borrowing for the government and stimulate economic activity.

The high demand for T-bills in Ghana could be attributed to several factors, including high inflation and the need for investors to protect their purchasing power. Ghana’s annual inflation rate stood at 10.3% in January 2023, up from 9.8% in December 2022, which is well above the Bank of Ghana’s target range of 8±2%. This has increased the demand for T-bills as investors seek to protect their investments against the eroding value of the Ghanaian cedi.

Furthermore, the Ghanaian economy has been hit hard by the COVID-19 pandemic, with the IMF projecting a 1.2% contraction in real GDP in 2020. The Bank of Ghana has implemented several measures to support the economy, including a reduction in the policy rate from 14.5% to 13.5% in November 2021, and an expansionary monetary policy stance. The high demand for T-bills could be an indication that investors are confident in the Bank of Ghana’s ability to steer the economy back to growth.

RelatedPosts

Multilateral Development Banks Hit Record $137 Billion in Climate Finance, Driving Sustainable Development Worldwide

Ghana Water Company Limited Seeks Tariff Hike From GH¢5.28/m³ to GH¢20.09/m³

GoldBod to Begin Local Gold Refining in October 2025

Looking ahead, the Bank of Ghana has set a target of GH¢2,417.00 million for the next auction, Tender #1841, in 91-Day, 182-Day, and 364-Day T-Bills. The auction results will be closely watched by investors and analysts, as they provide insights into the state of the Ghanaian economy and the demand for T-bills. Overall, the latest Treasury bills auction in Ghana has shown that the demand for T-bills remains strong, and the Bank of Ghana’s strategy of reducing yields could help to stimulate economic activity and support the country’s economic recovery.

Tags: Strong demand for T-bills as auction is oversubscribed by 121.64%T-bills
No Result
View All Result

Highlights

Ghana Gold Board Unveils Transformative Initiatives for Gold Industry

GSE Composite Index Holds Steady at 7,172.44 points, YTD Return at 46.72%

Bolivia Secures 2026 World Cup Playoff Spot with Shock Win Over Brazil; Argentina Stunned by Ecuador

England Thrash Serbia, Haaland Stars in World Cup Qualifying

CalBank Marks 35th Anniversary with Nationwide Donation of Academic Books

Chamber of Mines Calls for Collaboration and Flexibility in Minerals and Mining Act

Trending

Features

Multilateral Development Banks Hit Record $137 Billion in Climate Finance, Driving Sustainable Development Worldwide

September 10, 2025

Multilateral Development Banks Hit Record $137 Billion in Climate Finance, Driving Sustainable Development Worldwide Multilateral development banks...

Ghana Water Company Limited Seeks Tariff Hike From GH¢5.28/m³ to GH¢20.09/m³

September 10, 2025

GoldBod to Begin Local Gold Refining in October 2025

September 10, 2025

Ghana Gold Board Unveils Transformative Initiatives for Gold Industry

September 10, 2025

GSE Composite Index Holds Steady at 7,172.44 points, YTD Return at 46.72%

September 10, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.