Treasury Bill Rates in Ghana
Ghana's 91-day, 182-day and 364-day Treasury bill rates from each weekly Bank of Ghana auction, with the auction's issue date, the change from the previous auction and the history.
The latest verified Ghana Treasury bill rates are from the Bank of Ghana auction with issue date 12 Oct 2026 (tender 2028): the 91-day bill paid 4.6042%, the 182-day bill 6.2791% and the 364-day bill 9.7523% (interest rates, per year).
Latest verified auction: (issue date, tender 2028)
| Bill | Interest rate | Discount rate | Previous auction | Change |
|---|---|---|---|---|
| 91-day bill | 4.6042% | 4.5518% | 4.6413% (5 Oct 2026) | -0.04 pp |
| 182-day bill | 6.2791% | 6.0880% | 6.3192% (5 Oct 2026) | -0.04 pp |
| 364-day bill | 9.7523% | 8.8857% | 9.8018% (5 Oct 2026) | -0.05 pp |
- Source last checked
- 20 Oct 2026, 08:14 GMT
- Page updated
- 17 Oct 2026
These are the Bank of Ghana results for the auction with issue date 12 Oct 2026 (tender 2028). A newer weekly auction is due but its results are not verified here yet.
Since the previous auction the 91-day rate is down 0.04 percentage points, the 182-day rate down 0.04 percentage points and the 364-day rate down 0.05 percentage points. The chart and table show the most recent stored auctions, newest first in the table.
| Issue date | Tender | 91-day bill | Change | 182-day bill | Change | 364-day bill | Change |
|---|---|---|---|---|---|---|---|
| 2028 | 4.6042% | -0.04 pp | 6.2791% | -0.04 pp | 9.7523% | -0.05 pp | |
| 2027 | 4.6413% | -0.04 pp | 6.3192% | -0.05 pp | 9.8018% | -0.03 pp | |
| 2026 | 4.6785% | -0.02 pp | 6.3700% | -0.12 pp | 9.8339% | -0.15 pp | |
| 2025 | 4.6940% | 0.00 pp | 6.4894% | -0.02 pp | 9.9821% | -0.12 pp | |
| 2024 | 4.6950% | -0.11 pp | 6.5107% | -0.17 pp | 10.1017% | -0.02 pp | |
| 2023 | 4.8050% | -0.14 pp | 6.6831% | -0.18 pp | 10.1169% | -0.66 pp | |
| 2022 | 4.9460% | -0.13 pp | 6.8587% | -0.22 pp | 10.7778% | -0.82 pp | |
| 2021 | 5.0795% | -0.39 pp | 7.0800% | -0.19 pp | 11.5929% | -0.91 pp | |
| 2020 | 5.4681% | -0.16 pp | 7.2720% | -0.25 pp | 12.5000% | -0.49 pp | |
| 2019 | 5.6289% | -0.13 pp | 7.5265% | -0.11 pp | 12.9864% | 0.00 pp | |
| 2018 | 5.7618% | -0.03 pp | 7.6409% | -0.05 pp | 12.9821% | +0.02 pp | |
| 2017 | 5.7881% | 0.00 pp | 7.6891% | +0.01 pp | 12.9670% | -0.03 pp | |
| 2016 | 5.7845% | -0.08 pp | 7.6763% | -0.11 pp | 12.9954% | 0.00 pp | |
| 2015 | 5.8617% | -0.01 pp | 7.7884% | 0.00 pp | 12.9915% | +0.06 pp | |
| 2014 | 5.8730% | +0.14 pp | 7.7882% | +0.09 pp | 12.9295% | +0.11 pp | |
| 2013 | 5.7329% | +0.43 pp | 7.6933% | +0.56 pp | 12.8219% | +1.46 pp |
Each row is one stored Bank of Ghana auction, dated by issue date; change is against the previous stored auction of the same bill, in percentage points. Weeks without a stored auction are not filled in.
Enter an amount and pick a bill. The rate is prefilled from the latest verified auction (12 Oct 2026); the rate at the auction you actually buy at will differ, so type over it if you have a newer figure. This is an illustration, not a quote.
Assumptions: interest is worked out as amount x interest rate x days / 365, which is how a bill quoted at an annual interest rate accrues over its term; the interest rate (not the discount rate) is used; fees charged by your bank or broker are not included; the inflation figure is yours to enter, and the real return compares the bill's annual rate with it. The result is general information, not investment advice.
A Treasury bill is short-term borrowing by the Government of Ghana. You lend for 91, 182 or 364 days; the bill is sold below its face value and repaid at face value on maturity, and the difference is your return. The Bank of Ghana runs the auction every week, so rates move week to week.
Each auction publishes two rates per bill. The discount rate measures the return against the face value; the interest rate measures the same return against what you pay, so it is slightly higher. The interest rate is the one to compare with a savings or fixed-deposit rate, and it is the headline figure on this page.
The trade-offs are worth stating plainly:
- Your money is locked up for the term. A savings account is not.
- The next rate is unknown. When a bill matures you reinvest at whatever the auction pays then, which can be higher or lower.
- It is government risk, not no risk. Ghana restructured its domestic debt in 2023 and holders of local bonds took losses. Treasury bills were excluded from that exchange, which is why they are trusted, but excluded last time is not the same as guaranteed next time.
To buy one, ask a commercial bank or a licensed broker to place a bid for you at the weekly auction. Most individuals bid non-competitively and receive the rate the auction clears at. At maturity the principal and interest are paid back; you can ask for the bill to be rolled into a new one.
What are the latest verified Treasury bill rates in Ghana?
At the Bank of Ghana auction with issue date 12 Oct 2026 (tender 2028), the interest rates were the 91-day bill 4.6042%, the 182-day bill 6.2791% and the 364-day bill 9.7523%. Newer weekly auctions have not been verified here yet, so check the Bank of Ghana auction results for the newest figures.
How did Treasury bill rates change at the latest verified auction?
Compared with the auction of 5 Oct 2026, the 91-day bill down 0.04 percentage points, the 182-day bill down 0.04 percentage points and the 364-day bill down 0.05 percentage points.
Where do these Treasury bill rates come from?
From the Bank of Ghana's published Treasury bill auction results: the interest rate and discount rate for each bill, dated by the issue date of the auction. Each auction is read automatically from the Bank of Ghana page and stored once, so earlier auctions stay in the history.
What is the difference between the interest rate and the discount rate?
A Treasury bill is sold below its face value and repaid at face value. The discount rate expresses that gap as a share of the face value; the interest rate expresses the same return as a share of what you pay, so it is always slightly higher. The interest rate is the figure to compare with a savings or deposit rate.
How often are Ghana Treasury bills auctioned?
Every week. The Government of Ghana auctions 91-day, 182-day and 364-day bills weekly through the Bank of Ghana, so a new set of rates usually appears each week. Rates on this page always carry the issue date of the auction they come from.
How do I buy a Treasury bill in Ghana?
Through a commercial bank or a licensed broker, which places your bid at the weekly auction. Most individuals bid non-competitively and receive the rate the auction clears at. Minimum amounts and fees vary by institution, so ask before you invest. This page is information, not investment advice.
Source: Bank of Ghana, Government of Ghana Treasury bill auction results (interest rate and discount rate for the 91-day, 182-day and 364-day bills, dated by issue date), read from the Bank of Ghana's Treasury bill rates page and stored auction by auction. These are the Bank of Ghana results for the auction with issue date 12 Oct 2026 (tender 2028). A newer weekly auction is due but its results are not verified here yet.