Business Technology, Finance Technology & Information Technology
The 28-day bills rate at the BSP continues to fall.
MANILA, Philippines — On Friday, the interest rate on the Bangko Sentral ng Pilipinas’ (BSP) 28-day bills fell, but bids remained high despite the increased volume offer.
The average rate of debt paper fell to 1.9312 percent from 1.9677 percent during the auction last April 1, according to data issued by the central bank.
The BSP increased the offer volume to PHP130 billion from PHP120 billion the previous week.
After tenders totaled PHP186.385 billion, the auction committee made a full award. The bid coverage ratio was 1.4337.
The high number of bids during the weekly auction has been attributed by BSP Deputy Governor Francisco Dakila Jr. to stable market conditions and ample liquidity in the domestic economy.
“In the future, the BSP’s monetary operations will be guided by its most recent assessment of liquidity conditions and market developments,” he said.
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