Bangko Sentral ng Pilipinas Governor Francisco Dakila Jr. (PNA file photo)
MANILA – The rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) moved to different directions on Thursday, a day later than usual due to the national holiday for the celebration of Eid al-Adha.
The average rate of the six-day facility rose to 6.5847 percent from 6.5835 percent during the auction last June 21.
On the other hand, the rate of the 14-day facility went down to 6.5961 percent from last week’s 6.5966 percent.
The BSP upsized the offering for the six-day tenor to PHP140 billion from last week’s PHP120 billion.
However, tenders only amounted to PHP134.829 billion. The auction committee accepted PHP131.829 billion worth of bids.
BSP, meanwhile, lowered the offering for the 13-day TDF to PHP100 billion from PHP110 billion last week.
The auction committee made a full award after tenders reached PHP110.426 billion.
In a statement, BSP Deputy Governor Francisco Dakila Jr. said the range of yields accepted in this week’s TDF auction rose but narrowed to between 6.5500 to 6.6200 for the six-day TDF while those for the 13-day tenor went down and widened to between 6.5000 to 6.6188 percent.
“Moving forward, the BSP’s monetary operations will remain guided by its assessment of prevailing liquidity conditions and market developments,” he added. (PNA)
