Business, Finance & Technology
The 28-day Bill rate from BSP falls
In spite of high demand, the price of the 28-day Bill from the Bangko Sentral ng Pilipinas (BSP) decreased on Friday.
The debt paper’s average rate decreased from 6.8199 percent to 6.7397 percent since its last auction on March 31.
The BSP increased the offer volume from the previous PHP130 billion to PHP150 billion.
When bids for the debt paper reached PHP241.623 billion, the entire amount of the instruments was awarded.
According to a statement from BSP Deputy Governor Francisco Dakila Jr., yields accepted in this week’s securities auction “shifted lower and narrowed to a range of 6.5775 (percent) to 6.8450 percent.”
“The outcomes of the BSP Bill auction continued to demonstrate the significant demand for BSP Securities among qualified participants. According to his prediction, the BSP would continue to base its monetary operations on its evaluation of the current market conditions and liquidity levels.
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