Bangko Sentral ng Pilipinas Deputy Governor Francisco Dakila Jr. (File photo)
MANILA – The Bangko Sentral ng Pilipinas’ (BSP) 28-day bill rate declined to 1.6699 percent on Friday.
Central bank data showed that the average rate of the debt paper stood at 1.6723 percent during the auction on February 4.
The BSP again offered the paper for PHP120 billion, and tenders reached PHP158.1 billion, bringing the bid coverage ratio to 1.3175. The auction committee made a full award.
The accepted yield in this week’s auction was between 1.6270 percent and 1.6850 percent, narrower than the previous week’s 1.6300 percent to 1.6945 percent.
BSP Deputy Governor Francisco Dakila Jr. repeatedly traced the large bids being submitted during the BSP bills auction to the normalization of the liquidity situation in the domestic economy after the Christmas season.
“Looking ahead, the BSP’s monetary operations will remain guided by its assessment of the latest liquidity conditions and market developments,” he said in a statement. (PNA)
