ACI Ghana – Financial Markets Association weekly money market update – March 25, 2024

Below is Ghana’s money market update for the week beginning March 25, 2024.

KEY TAKEAWAYS

Last week short-term interest rates trended downwards. The yield on the 91- Day, 182-Day and 1-Year T-Bill rates all fell by 50bps to close at 25.99%, 28.49%, and 29.09% respectively. BOG 56-day bill rate and interbank interest rate remained unchanged at 29.00% and 28.47% respectively.

Expected maturities for the week of March 25, 2024, include:

>> GHS 3.17 billion in Treasury Bill maturities comprising:

1. GHS 2.15 billion in 91-day maturities due on March 25^th
2. GHS 548 million in 182-day maturities due on March 25^th

>> GHS 2.05 billion in 56-day Bill maturities comprising:

1. GHS 400 million due on March 25^th

2. GHS 1.65 billion due on March 27^th

The Treasury Bill auction on Friday was oversubscribed by 40.66%. The Government accepted a total of GHS 4.76 billion, surpassing the auction target of GHS 3.38 billion by GHS 1.38 billion.

Money Market Term(s) of the Week

Greenwashing: Greenwashing is the process of conveying a false impression or misleading information about how a company’s products are environmentally sound.