Higher demand observed in the BSP bill auction


MANILA: The Bangko Sentral ng Pilipinas (BSP) said total demand for its 28-day and 56-day debt papers increased to PHP148.55 billion.

In a statement on Friday, the central bank said it continued to lower the total volume offering for the BSP bill auction to PHP110 billion, with the allocation for the 28-day and 56-day tenors reduced to PHP80 billion from PHP90 billion and PHP30 billion from PHP65 billion, respectively.

For the 28-day debt paper, the total amount tendered reached PHP102.5 billion.

For the 56-day BSP bills, total tenders amounted to PHP46 billion.

“With the oversubscription, the BSP fully awarded its offerings for the two tenors. The resulting weighted average interest rates for the 28-day and 56-day tenors fell by 0.4128 basis point (bp) and 1.9925 bps to 6.7695 percent and 6.7591 percent, respectively,” the BSP said.

The BSP said the range of accepted yields was at 6.75 percent to 6.78 percent for the 28-day BSP bill, and 6.75 percent to 6.77 percent for the 56-day BSP bill.

“Looking ah
ead, the BSP’s monetary operations will continue to be guided by its assessment of prevailing liquidity conditions and market developments,” the BSP said.

Source: Philippines News Agency

  • malaysiang

    Related Posts

    Bicol disaster offices on red alert due to ‘Kristine’

    LEGAZPI CITY – The Regional Disaster Risk Reduction and Management Council (RDRRMC) in Bicol has placed all disaster response offices on red alert in preparation for the effects of Tropical Depression (TD) Kristine.

    In a memorandum issued on Monday,…

    PH to pilot tool measuring creative industries’ share to GDP

    Manila: The World Intellectual Property Office (WIPO) has chosen the Philippines to be the pilot country for a new tool that would measure the contribution of creative industries relative to gross domestic product (GDP).

    WIPO Deputy Director General …