Government secures Ghs2.6 billion through auctioning as at November 3rd

The Government of Ghana secured GH¢2.693 billion in its latest auction on November 3, 2023, indicating an oversubscription of GH¢541.23 from a target of GH¢2.152 billion. Interest rates on treasury bills have continued to increase for the 36th consecutive time this year to hit 33.7% for

the 365-day bill. According to the latest auction results from the Bank of Ghana, interest rates for the 91-day bill and the 182-day bill have increased to 29.96% and 32.1% respectively. Despite the high rates, the government has witnessed consistent oversubscriptions in its latest auctions. The 91-day bill saw a total subscription of GH¢2.02 billion, GH¢439.28 million was accepted from the 182-day bill and GH¢233.69 million was accepted from the 364-day bills. The government has set its next auction target at GH¢3.105 billion.

🚩Standard Chartered Bank has reported a substantial boost in its financial performance for the third quarter of 2023. The bank, which had previously grappled with a net loss of GH¢93.7 million in the same quarter of the previous year, posted a net profit of GH¢298 million. This recovery can be attributed to the substantial growth in the bank’s operating income, which surged from GH¢701 million in Q3 2022 to GH¢1.2 billion in Q3 2023. Total assets grew from GH¢11.7 billion in Q3 2022 to GH¢13.6 billion in Q3 2023, reflecting a 16.23 percent increase year-on-year. The bank’s Capital Adequacy Ratio (CAR) at the close of Q3 2023 stood at 23.1%, marking a significant improvement from the 15.6% CAR recorded in Q3 2022.

🚩Agricultural Development Bank (ADB) reported a significant decline in net profit, with Q3 2023 figures showing GH¢2 million compared to the GH¢41.8 million net profit in the same period the previous year. This represents a GH¢39.8 million drop in net profit on a year-on-year basis. Despite showing growth in net interest income and operating income, standing at GH¢ 397 million and GH¢ 621 million, respectively, the bank struggled with a myriad of issues, ultimately impacting its profitability. ADB’s assets saw notable growth, surging from GH¢7.1 billion in Q3 2022 to GH¢9.3 billion in Q3 2023, indicating a substantial GH¢ 2.2 billion increase in asset value over the year. The bank’s Capital Adequacy Ratio (CAR) plummeted to a mere 1.3% at the close of Q3 2023, marking a substantial decline from the 10.4% CAR recorded in Q3 2022.

INTERBANK FOREX RATES 💴💰

US$GH¢ Buy 11.5013 Sell 11.5129
GB£GH¢ Buy 14.2479 Sell 14.2633
CHFGH¢ Buy 12.8140 Sell 12.8267
AUD$GH¢ Buy 7.4730 Sell 7.4825
CAD$GH¢ Buy 8.4088 Sell 8.4169
JP¥GH¢ Buy 0.0768 Sell 6.8717
NZDGH¢ Buy 6.8806 Sell 0.6287
ZARGH¢ Buy 0.6293 Sell 0.6293
EU€GH¢ Buy 12.3551 Sell 12.3674
CHN¥GH¢ Buy 1.5825 Sell 1.5846
GH¢CFA Buy 53.0392 Sell 53.0920
GH¢NG₦ Buy 74.3280 Sell 75.4143

CRYPTOCURRENCY MARKET
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Ethereum $1,893.31 🔼1.05%
Binance Coin $251.83 🔼3.79%
Ripple $0.6877 🔼2.18%
Solana $41.13 🔼3.09%
Cardano $0.3569 🔼4.76%
Dogecoin $0.07449 🔼5.26%

💵Bloomberg USDGHS Cross Rate – *11.9247* (YTD -🔺️14.46%)

💰STANBIC BANKFOREX RATES💵
US$GH¢ Buy 11.5200 Sell 11.9800
GB£GH¢ Buy 14.2330 Sell 14.8816
EU€GH¢ Buy 12.3264 Sell 12.9240
CH¥GH¢ Buy 1.5781 Sell 1.6550

🔼GSE DAILY GAINERS ➖ PRICE ➖ %CHANGE
EGH ➡️Gh¢6.60 🔼+6.45%
TOTAL ➡️Gh¢9.00 🔼+0.11%

🔻GSE DAILY LOSERS ➖ PRICE ➖ %CHANGE
No losers for today

〽Inflation rate in Ghana ➡️38.10%

🏦Ghana Reference Rate ➡️ 32.00%

✳Policy Rate in Ghana ➡️ 30.00%

¶ TREASURY RATES💸
91 – Day Discount Rate 27.8800% Interest Rate 29.9688%
182 – Day Discount Rate 27.6968% Interest Rate 32.1489%
364 – Day Discount Rate 25.2057% Interest Rate 33.7000%

🛢Petroleum Products – Average Price
🏗Petrol – Gh¢12.99/ltr (YTD 🔺️+4.76%)
🛢Diesel – Gh¢13.50/ltr (YTD 🔼-7.53%)
⛽LPG – Gh¢12.90/kg (YTD-🔺️+40.22%)

🏧MARKET INDEXES
*Dow Jones Index🚂⛽ 34,095.86 +34.54 +0.10%
*S&P 500 🏦 4,365.98 +7.64 +0.18%
*Nasdaq Index📲💻 13,518.78 +40.50 +0.30%
* NYSE Composite Index 15,440.50 -34.70 -0.22%
*London FTSE 7,417.76 +0.03 +0.00%
*Germany DAX 15,135.97 -53.28 -0.35%
*Japan NIKKEI 225 32,708.48 +758.59 +2.37%
*Tokyo TOPIX Index 2,360.46 +38.07 +1.64%
*Hong Kong HANG SENG 17,966.59 +302.47 +1.71%
*Shanghai Shenzhen 300 3,632.61 +48.47 +1.35%
*S&P/ASX 200 Index 6,997.38 +19.18 +0.27%
*Bloomsberg EU 500 285.45 -0.49 -0.17%
*France CAC All-Tradable 5,207.13 -27.06 -0.52%
*Dubai DFM General Index 3,956.96 +27.15 +0.69%
*MOEX Russia Index 3,235.11 +26.48 +0.83%
*FTSE/JSE South Africa 67,353.06 +436.83 +0.65%
*Nairobi SE 20 Share 1,442.67 -0.75 -0.05%
*Nigeria SE Main 70,479.63 +282.70 +0.40%
*BBG EMEA World Index 197.78 +0.22 +0.11%
*GSE Composite Index 3,149.70 +12.30 +0.39%
*GSE Financial Index 2,024.05 +22.39 +1.12%

GSE INDEXES ⏸ 2023 YTD RETURNS%
*GSE Composite Index 3,149.70 🔼+28.88%
*GSE Financial Index 2,024.05 🔻-1.39%

🔼GSE 2023 GAINERS ➖ PRICE ➖ YTD%
BOPP ➡️Gh¢19.93 🔼+160.52%
TOTAL➡️Gh¢ 9.00 🔼+125.00%
UNIL ➡️Gh¢8.10 🔼+108.76%
GGBL ➡️Gh¢3.40 🔼+65.85%
SOGEGH ➡️Gh¢1.57 🔼+57.00%

🔻GSE 2023 LOSERS ➖ PRICE ➖ YTD%
EGL ➡️Gh¢2.41 🔻-24.69%
SIC ➡️Gh¢0.24 🔻-22.58%
CAL ➡️Gh¢ 0.55 🔻-15.38%
ACCESS ➡️Gh¢3.40 🔻-15.21%
GOIL ➡️Gh¢1.50 🔻-12.79%

COMMODITIES MARKET
*Brent Crude USD/barrel⛽88.07 -1.76 -1.96%
*Natural Gas 🏭 USD/millon BTUS 2.98 +0.01 +0.30%
*Gold 👑 USD/troy ounce 1,981.60 -4.50 -0.23%
*Silver 💍 USD/troy ounce 23.06 -0.06 -0.24%
*Corn 🌽 USd/bushel 484.00 -6.25 -1.27%
*Cocoa 🍫 USD/metric ton 3,729.00 -30.00 -0.80%
*Coffee ☕ USd/pound 170.90 +5.55 +3.36%
*Sugar🎂 USd/pound 27.77 +0.29 +1.06%
Rubber USd/100kg 146.10 -0.40 -0.27%