MANILA – The Bangko Sentral ng Pilipinas (BSP) has awarded its 29-day debt paper in full in auction Friday.
The BSP bill was offered at PHP100 billion.
The BSP bill was oversubscribed with a total of PHP126.25 billion worth of tenders, reflecting the sustained interest of the market.
“The auction results continue to show that financial system liquidity remains ample as demand for the BSP bill remains strong amid ongoing issuance by the Bureau of the Treasury of its Retail Treasury Bonds,” BSP deputy governor Francisco Dakila Jr. said in a statement.
Meanwhile, the weighted average interest rate for this day’s auction was lower than last week’s yield, which settled at 1.7669 percent, down by 0.986 basis points.
Although the rate was lower, yields accepted widened to a range of 1.6500 to 1.8000 percent.
“Going forward, the BSP’s monetary operations will remain guided by its assessment of the latest liquidity conditions and market developments,” Dakila added. (PNA)
