MANILA – The average rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities fell on Friday due to strong demand.
Data released by the central bank showed that the rate of the debt paper slipped to 1.7619 percent from last week’s 1.7769 percent.
The BSP offered it again for PHP100 billion, which was fully awarded.
Bids reached PHP165.88 billion. This week’s bid coverage ratio stood at 1.6588.
BSP Deputy Governor Francisco Dakila Jr. has repeatedly said the domestic liquidity condition in the financial system remains normal amid the pandemic.
“The BSP’s monetary operations will remain guided by its latest assessment of liquidity conditions and market developments,” he added. (PNA)
