Yem0350:
Over subscription

manlikegb:


Lucky you.

For someone like me, I couldn't lock in at the time because my last TB investment will just mature tomorrow March 14th.

Now here's the dilemma, as of right now, I can still contact my investment company to roll over(this will lock into today's auction). This would mean that I would be getting something in the region a little below whatever the stop rate of the auction today is, which is expected to drop even lower compared to the last stop rate.

Seniors in the house, what would you suggest.

-Should I roll over and take whatever the interest rate is like that?
-Should I lock in for secondary market after today's auction for a short tenor - say 90days - then hope that interest rates would have picked up by the time the 90day investment matures, and I can then go long.

I'm just confused, and I don't want to lose much because I have already been calculating the interest I would get with rates of as at 2 auctions back until the election outcome hit it on the head. The difference in the interest I could have gotten if the rates remained in the region of 14% - 14.5% and now 13%(speculation) is hurting so much.

Over to the seniors and everyone, please advice. Thanks.

@feelamong, @unite4real, @dipoolowoo, @Just2endowed2, @Agbaletu, @ahiboilandgas.

Agbaletu:

This is unbelievable. See 364-day tenor!

GonFreecss1:
Those of you who were planning to go and buy Treasury Bills from Ghana, lol! I hope you didn't do it?

Their currency had a sharp drop today and became one of the, if not the cheapest currency in Africa. Stick with the demon you know!

Just2endowed2:


and investors are still over subscribing. hmmm

lancee:









SEC RATES


91 days @ 10.65




182 days @ 12.25




350 days @ 12.40

dammybrite:
Which bank, Biko?

feelamong:


Rates not looking good!

91 days - 10.75%

182 days - 12.50%

364 days - 12.845%

Just2endowed2:


hmmm explain more

Agbaletu:

Sorry, this might be late. It is very difficult to predict the discount rate now, even some Banks's bid are unsuccessful especially the 364-day tenor. Zenith bank allows customers to bid with their matured bid. I used to do that in Zenith Bank but I have not tried it in GTB. I will advise you to take the secondary market rate now because we don't know what will happen in the next bid.
If it were to be Zenith Bank that your bid is maturing a day after the official bid date; they will allow you to bid in the primary market of that same day. The real transactions take place a day after the official bid date. i.e your matured bid of 14th of March can be used to bid on 13th of March but you won't get your Upfront interest until 14th.

freshpreshy:
Hi...please i'm new to this TB. However, went to my bank (fidelity bank) to enquire and was told that i need a startup of at least 1m to buy TB. Currently, i have only 500k to spare. Is there a way out or any bank that accepts lower. Thanks in advance

DEGREE2466:


Please can you help me clarify

If I buy a tbill at 10% for 91 days, what happens after that 91 days? Will I buy another one of any tenure of my choice.

Now if the answer to the above is yes, does it not make sense to buy 91 days twice at 10% yielding 20% in 182 days than buying a 182 days tenure at 12%.

Sorry, this may sound like a lay man's calculation, I think this is what I need clarification on.

Thanks

DEGREE2466:


Please can you help me clarify

If I buy a tbill at 10% for 91 days, what happens after that 91 days? Will I buy another one of any tenure of my choice.

Now if the answer to the above is yes, does it not make sense to buy 91 days twice at 10% yielding 20% in 182 days than buying a 182 days tenure at 12%.

Sorry, this may sound like a lay man's calculation, I think this is what I need clarification on.

Thanks

GonFreecss1:


The Ghanaian currency lost some value.

Just2endowed2:


like link to get this updated information and check historical records of ghana currency

feelamong:


The Bonds and Money market is bullish.....expect lower stop rates in Tbills

GonFreecss1:
Those of you who were planning to go and buy Treasury Bills from Ghana, lol! I hope you didn't do it?

Their currency had a sharp drop today and became one of the, if not the cheapest currency in Africa. Stick with the demon you know!

OgogoroFreak:
cheapest currency in which Africa?

GonFreecss1:


Just because you need more of a currency to get another one doesn't mean that one has a lesser value than the other.

Ghana did what is called Redenomination, where the number of 0's attached to a currency is reduced. I.e. imagine the Nigerian naira 1000 becoming 10 naira, then 100 naira becoming 1 naira. This doesn't mean we now have a better value, 0's were just removed to prevent a situation were people will need wheelbarrows to buy just bread. Just check out Venezuela and Zimbabwe they have done this several times to no avail. Still the same inflation problem. You understand now? What determines the value of a currency is it's rate of inflation. Even if Nigeria does what I explained to the naira above by removing 0's our inflation rate will still be the same.

Also because USD is a general currency used worldwide, some people can use the rate at which your currency gains or loses value with respect to the USD. Especially if that country depends solely on importation where USD is being used.

TotoNaRubber:
Say you invest for 91 days at 10 % for N10m, your interest for 91 days is N249,315. Then you reinvest at the 92nd day for another 91 days to meet up the 182 days then your total interest for doing at 10% x 2 will be N498, 630.

Say if you invest for 182 days at 12% for N10m, your interest for 182 days is N598,356.

Compre the two and have your answer.

vexing:

Your interest is calculated for a year and prorated for the number of days. For instance if you invested 100k at 10% for 91-day tenor you would be paid interest of 10k ÷ 4 = 2.5k

vexing:

First bank collect as little as 100k

DEGREE2466:


Please can you help me clarify

If I buy a tbill at 10% for 91 days, what happens after that 91 days? Will I buy another one of any tenure of my choice.

Now if the answer to the above is yes, does it not make sense to buy 91 days twice at 10% yielding 20% in 182 days than buying a 182 days tenure at 12%.

Sorry, this may sound like a lay man's calculation, I think this is what I need clarification on.

Thanks

vexing:

Your interest is calculated for a year and prorated for the number of days. For instance if you invested 100k at 10% for 91-day tenor you would be paid interest of 10k ÷ 4 = 2.5k

GonFreecss1:


Just because you need more of a currency to get another one doesn't mean that one has a lesser value than the other.

Ghana did what is called Redenomination, where the number of 0's attached to a currency is reduced. I.e. imagine the Nigerian naira 1000 becoming 10 naira, then 100 naira becoming 1 naira. This doesn't mean we now have a better value, 0's were just removed to prevent a situation were people will need wheelbarrows to buy just bread. Just check out Venezuela and Zimbabwe they have done this several times to no avail. Still the same inflation problem. You understand now? What determines the value of a currency is it's rate of inflation. Even if Nigeria does what I explained to the naira above by removing 0's our inflation rate will still be the same.

Also because USD is a general currency used worldwide, some people can use the rate at which your currency gains or loses value with respect to the USD. Especially if that country depends solely on importation where USD is being used.

freshpreshy:

Same thought that was running through my head

DEGREE2466:


And I helped you asked

I wanted to buy a car and put on Uber but financial advisers suggested that I invest the money into something else.

At present, there's no safer investment in Nigeria than treasury bills

PetroDollaxx:
What is the exchange rate for the Cedi per US dollar? Do you have to preach a long sermon just to state how much one currency exchanges for another? Fuckeduppedness I have observed that any time Nigerians talk about the Cedi, they are very quick to bring in the redonimation factor. If someone comes to you and asks for the current exchange rate per the Ghana cedi and US dollar, a typical nigerian will go like this..... Ghanaians redominated their currency bla bla bla... Fuckeduppedness

Nigeria should simply redominate it’s currency and stop acting so childishly

PetroDollaxx:
What is the exchange rate for the Cedi per US dollar? Do you have to preach a long sermon just to state how much one currency exchanges for another? Fuckeduppedness I have observed that any time Nigerians talk about the Cedi, they are very quick to bring in the redonimation factor. If someone comes to you and asks for the current exchange rate per the Ghana cedi and US dollar, a typical nigerian will go like this..... Ghanaians redominated their currency bla bla bla... Fuckeduppedness

Nigeria should simply redominate it’s currency and stop acting so childishly