MANILA – High liquidity condition in the domestic economy continues to push the rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities.
Data released by the central bank showed that the average rate of the debt paper rose to 2.0273 percent from last week’s 1.8956 percent.
BSP’s auction committee made a full award of PHP80 billion after tenders amounted to PHP141 billion.
The bid coverage ratio improved to 1.7625 from last week’s 1.0758 when the PHP120 billion offer in the previous auction was met with bids amounting to PHP129.1 billion.
BSP Deputy Governor Francisco Dakila Jr., in a statement, said the “auction results show sustained demand for BSP bills as liquidity remains ample in the financial system.”
“The BSP monetary operations will continue to be guided by its assessment of market developments and liquidity conditions,” he added. (PNA)
