Money Market Update 6th May 2024

Rates
Primary Market: Treasury Bills & Bank of Ghana Bills

Commentary
Expected maturities for the week of May 6th 2024 include:
• GHS 2.73 billion in Treasury Bill maturities:
o GHS 1.91 billion in 91-day maturities due on May 6th
o GHS 439 million in 182-day maturities due on May 6th
o GHS 381 million in 364-day maturities due on May 6th

• GHS 7.09 billion in 56-day BOG Bill maturities:

o GHS 4.13 billion due on May 6th
Commentary o GHS 2.96 billion due on May 6th
Yields on the 91-Day, 182-Day and 1-Year T-Bill rates fell by 10bps, 25bps
and 25bps to close at 25.45%, 27.40%, and 28.00% respectively. BOG 56- Treasury Bills – Demand
day bill and interbank rate remained at 29.00% and 28.74% respectively.

Liquidity

The Treasury Bill auction demand on Friday was oversubscribed by

17.07%. The Government accepted all the GHS 3.465 billion bids tendered,
which was above the auction target of GHS 2.960 billion.

Auction Target GHS 2.96 billion

Total Bids GHS 3.465 billion
Total Accepted GHS 3.465 billion
Bid-to-Cover 1.0000x
Subscription Ratio 1.1707x

Money Market Term(s) of the Week

Cer4ficate of deposit: A cer'ficate of deposit (CD) refers to a product extended by
banks, credit unions, and other financial lenders to provide a specified interest rate
to investors who leave a lump-sum deposit that cannot be withdrawn for a certain
period of 'me.

ACI Ghana Money Market Committee Members:

Kofi Koduah-Sarpong | Ebenezer Allotey | Ronald Mensah | Kojo Bedu-Addo | Nicholas Tawiah Page 1
 Money Market Update 6th May 2024
Repo Market Flows

ACI Ghana Money Market Committee Members:

Kofi Koduah-Sarpong | Ebenezer Allotey | Ronald Mensah | Kojo Bedu-Addo | Nicholas Tawiah Page 2