MANILA -- Rate of the Philippines’ Treasury bills (T-bills) on Monday declined given the expectations of further lowering in the Bangko Sentral ng Pilipinas’ (BSP) and Federal Reserve’s key rates as well as the inflation rate.
Average rate of the 92-day paper went down to 3.254 percent from 3.398 percent during the auction last August 5.
Bids reached PHP10.76 billion, more than twice the PHP4-billion offering.
The auction committee made a full award.
Rate of the 182-day T-bills averaged at 3.471 percent from 3.677 percent in the previous auction.
This tenor was offered for PHP5 billion and was awarded in full, but tenders reached nearly thrice at PHP14.11 billion.
Average rate of the 365-day paper declined to 3.636 percent from 3.898 percent last August 5.
The auction committee made a full award of PHP6 billion after tenders amounted to PHP20.885 billion. (PNA)
