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 5th
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 5th
GHS 1.44 billion due on February 7th
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.
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