MANILA – The average rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities dipped on Friday on strong demand from investors.
Data released by the central bank showed that rate of the debt paper went down to 6.7374 percent from the 6.7613 percent during the auction last May 5.
BSP hiked the offer volume to PHP120 billion from last week’s PHP110 billion.
The auction committee fully awarded the securities after bids reached PHP138.437 billion.
BSP Deputy Governor Francisco Dakila Jr. said the large volume of bids is an indication of the “sustained demand for BSP Securities.”
“Looking ahead, the BSP’s monetary operations will continue to be guided by its assessment of the prevailing liquidity conditions and market developments,” he added. (PNA)