MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities fell anew Friday as demand for the debt paper remained.
Data released by the central bank showed the average rate of the securities slipped to 1.6985 percent from 1.7053 percent during the auction last Nov. 27.
The BSP offered the debt instrument for PHP60 billion and the auction committee made a full award.
Tenders amounted to PHP117.10 billion, resulting in a bid coverage ratio of 1.9517.
BSP Deputy Governor Francisco Dakila Jr. said demand for the securities in this week’s auction “reflect that, amid the forthcoming holidays, financial system liquidity remains ample.”
“Going forward, the BSP’s monetary operations will remain guided by its assessment of market developments and liquidity conditions,” he added. (PNA)
