Yields on Government debt retreat
The price quoted for the bench-mark 91- day bill retreated this week after gains over the past two weeks. It lost 13bps to 10.14 per cent. The 182-day bill lost 4bps to 10.95 per cent. The 1-year note was re-rated downwards to 13.10 per cent, loosing 8bps.
The 91-day (s/s) bill was the only instrument on the money market to register a gain this week. It was up 23bps to 10.28 per cent. All tenures were over subscribed. The 182-day bill was over-subscribed by a massive 67.50%. The amounts on offer at next week’s auction are only slightly in excess of what was offered this week. Given the high percentages that the instruments were over-subscribed this week, we anticipate yields to move further south next week.
Dalasi stable in the Parallel market
Parallel market rates remained unchanged this week. They were steady at D26.88 to the Dollar, D40.75 to the Pound and D37.00 to the Euro. In the Interbank market, the local currency was unchanged at D26.85 against the Dollars, but lost 40bututs against the Pound to D40.70. It was quoted at D36.55 against the Euro, having appreciated by 10bututs, and was unchanged at D280.00 against the CFA.
Dalasi Interbank Mid Exchange Rates
Dollar 26.85
Pound 40.70
Euro 36.55
CFA 280.00
Parallel Mid Exchange Rates
DOllar 26.88
Pound 40.75
Euro 37.00
CFA 275.00
