MANILA – Rates of the Philippines’ treasury bills (T-bills) rose Monday, which National Treasurer Rosalia de Leon said is in line with their expectations.
Average rate of the 91-day T-bills rose to 1.131 percent, the 182-day to 1.407 percent, and the 364-day to 1.751 percent.
These were at 1.118 percent, 1.388 percent, and 1.745 percent for the three, six and 12-month paper during the auction last August 17.
All tenors posted oversubscription this week and the auction committee fully awarded all the tenors.
The Bureau of the Treasury (BTr) offered the three-month paper for PHP5 billion and the auction committee made a full award.
Total tenders reached PHP12.178 billion.
Bids for the 182-day paper totaled to PHP11.661 billion, higher than the PHP5-billion offer.
Tenders for the 364-day tenor amounted to PHP26.438 billion, more than twice the PHP10-billion offer.
De Leon told journalists in a Viber message that last week’s decision by the Bangko Sentral ng Pilipinas’ (BSP) policy-making Monetary Board (MB) to keep key rates steady is among the factors during the T-bill auction.
Asked whether she considers the possibility of further drop in domestic interest rates because of the latest BSP rate decision, de Leon said rates could move “sideways or tad higher.” (PNA)
