A bank is short of cash to meet Bank of Ghana reserve requirement overnight and it is
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- A bank is short of cash to meet Bank of Ghana reserve requirement overnight and it is therefore selling treasury bills of face value of GHS250 million to a discount house at a price of GHS249.82 million. The bank agrees to repurchase the T. Bills back at GHS250 million the next day. Calculate the repurchase (REPO) rate p.a. on the transaction.
Related Book For
Managerial Economics A Problem Solving Approach
ISBN: 978-1133951483
3rd edition
Authors: Luke M. Froeb, Brian T. McCann, Mikhael Shor, Michael R. War
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