MANILA – Sustained robustness of domestic liquidity pushed interest rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day bills higher on Friday.
Average rate of the debt paper increased to 2.0367 percent from 2.0273 percent during the auction last October 23.
BSP offered the securities for PHP70 billion this week, lower than week-ago’s PHP80 billion offer.
The auction committee made a full award after bids totaled PHP120.55 billion, which, however, is lower than the PHP141 billion tenders in last week’s auction.
BSP Deputy Governor Francisco Dakila Jr., in a statement, cited the huge tenders in this week’s auction.
“Moving forward, the BSP monetary operations will remain guided by its assessment of market developments and liquidity conditions,” he said. (PNA)
