MANILA – The Bangko Sentral ng Pilipinas (BSP) awarded on Friday its 28-day securities in full at a higher yield compared to the previous auction.
“The BSP continued to offer PHP100 billion worth of 28-day bills which was awarded in full amid good demand from market participants,” BSP Deputy Governor Francisco Dakila Jr. said in a statement.
Although lower from last week’s total bids of PHP140.53 billion, the latest BSP securities auction fetched a total of PHP135.73 billion in tenders.
The bid coverage ratio in Friday’s auction was at 1.3573, lower from last week’s 1.4053.
“The auction results remain in line with the current normal market conditions amid sustained ample liquidity in the financial system,” Dakila said.
The weighted average rate, on the other hand, slightly increased to 1.8158 percent from 1.8109 percent last June 18.
“Looking ahead, the BSP’s monetary operations will remain guided by its latest assessment of liquidity conditions and market developments,” the central bank executive said. (PNA)
