The government surpassed its selling of Treasury bills last Friday by $43.34 million.
It signaled a the interest of investors in short-term government securities.
The government planned to collect $876 million in total, but secured a little over $919 million.
For the 91-day and $65.24 million for the 182-day Treasury bills, it actually approved GHS854 million bids. This shows the involvement of investors in state securities.
During the Covid-19 epic period and even until recently, the government did not meet its short and medium-term securities goal, but the recent rise in investor interest may also help reduce the return on these instruments.
Over the last few weeks, interest rates have stayed stable as they hover about 14.15 percent.
In the month of August 2020, investors were earlier seeking more interest rates when they were actually switching into other risk-free instruments that gave them extra returns relative to government treasuries.
Bank of Ghana data shows that in the better part of the second quarter of this year, government treasury securities were priced at a rate of about 13.97 percent.
MPC Report from September
The report of the Monetary Policy Committee also reported that interest rates on the money market saw mixed developments as rates on short- to medium-term instruments eased, but generally tightened in August this year over the longer-term.
The 91-day Treasury bill rate declined to about 14.0 percent in August 2020 from 14.7 percent a year ago on a year-on-year basis.
Similarly, the interest rate decreased to 14.11 on the 182-day instrument.
From 15.2 percent percent.
Yields on the 7-year, 10-year, 15-year, and 20-year bonds all rose, with the exception of the 6-year bond.