After 5 weeks in a row of under-subscription, the Ghanaian government has now reached its goal for the weekly Treasury bill auction.

Interest rates are getting close to 36%, and as of October 2022, inflation will reach 40.4%.

The findings revealed that GH1,381 million in bids from the 91-day Treasury bill and GH274.99 from the 182-day Bill were accepted.

For the 91-day and 182-day treasuries, the interest rates were 35.1% and 35.9%, respectively.

$1,1168 million was the desired price for the auction.

Due to the rising rate of inflation and the depreciation of the cedi, the returns on treasury notes continue to be negative despite the skyrocketing interest rates.

Nevertheless, comparing this week’s auction to that of last week, the bills performed slightly. This may show an increase in investor confidence in the country’s financial instruments.