ACI Ghana weekly money market update – February 5, 2024

Below is Ghana’s money market update for the week beginning February 5, 2024.

KEY TAKEAWAYS

Last week short-term interest rates continued the decline.

The yield on the 91-Day, 182-Day and 1-Year T-Bill rates fell by 29bps, 30bps and 40bps to close at 28.30%, 30.79% and 31.40% respectively. BOG bill rates fell by 99bps to 29.00%. Interbank interest rates fell by 30bps to 29.34%.

Expected maturities for the week of February 5th, 2024, include:

>> GHS 2.67 billion in Treasury Bill maturities:

GHS 2.02 billion in 91-day maturities due on February 5^th

GHS 649.39 million in 182-day maturities due on February 5th

>>GHS 2.66 billion in 56-day BOG Bill maturities:

GHS 1.22 billion due on February 5^th

GHS 1.44 billion due on February 7^th

The Treasury Bill auction on Friday witnessed unprecedented demand, surpassing the target by 58.26%. Responding to the demand, the Government accepted a total of GHS 4.527 billion, surpassing the auction target of GHS 2.861 billion by GHS 1.666 billion.

Money Market Term(s) of the Week
Floating-Rate Payer: The floating-rate payer of a swap is the party that pays a floating interest rate.