Below is Ghana’s money market update for the week beginning September 4, 2023.
KEY TAKEAWAYS
>> Short-term interest rates saw significant week-on-week increases. Specifically, the 91-day bill rate surged by 34 basis points, reaching 27.36%, while the 182-day bill rate increased by 10 basis points, reaching 28.71%. Meanwhile, the 364-day bill experienced a notable increase of 42 basis points, ultimately closing at 31.66%.
>>Expected maturities for September 4th include:
GHS has 2.87 billion in Treasury Bill maturities, encompassing 91-day, 182-day, and 364-day bills.
GHS 1.32 billion in BOG bill maturities, primarily stemming from 56-day bills
>>Last week’s Treasury Bill Auction was oversubscribed by 15.11%, with the government acceding to a total of GHS 3.53 billion across the 91, 182, and 364-Day tenors against an auction target of GHS 3.06 billion.
Money Market Term of the Week
GMRA: This is the acronym for Global Master Repurchase Agreement. It is a model legal agreement designed for parallel transatlantic repos and is published by the International Capital Market Association (ICMA), which is the body representing the cross-border bond and repo markets in Europe.
Source: ACI Ghana – Financial Markets Association
![GRA Boss Anthony Kwasi Sarpong [L], COMAC CEO, Dr. Oppong Riverson [R}](https://sikamantimes.com/wp-content/uploads/2025/06/sarpomg_riverson-350x250.jpeg)
