SECURITIES RATE DECLINES. The rate of the Bangko Sentral ng Pilipinas' (BSP) 28-day securities declined again on Friday (April 8, 2022) as demand for the paper remained. BSP Deputy Governor Francisco Dakila Jr. (in photo) has repeatedly attributed the demand to the high liquidity situation in the domestic economy. (PNA file photo)
MANILA – Interest rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day bills declined on Friday and bids continued to remain high despite the higher volume offer.
Data released by the central bank showed that the average rate of the debt paper went down to 1.9312 percent from 1.9677 percent during the auction last April 1.
The BSP hiked the offer volume to PHP130 billion from the previous week’s PHP120 billion.
The auction committee made a full award after tenders reached PHP186.385 billion. Bid coverage ratio stood at 1.4337.
BSP Deputy Governor Francisco Dakila Jr. has repeatedly traced the high amount of bids during the weekly auction to stable market conditions and ample liquidity in the domestic economy.
“Looking ahead, the BSP’s monetary operations will continue to be guided by its latest assessment of liquidity conditions and market developments,” he added. (PNA)
