Business Technology, Finance Technology & Information Technology
The BSP’s 28-day securities rate continues to fall.
MANILA, Philippines — The average rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day bill fell to 1.9144 percent as demand for the debt paper remained strong.
According to central bank data issued on Monday, the offer volume for the securities increased to PHP140 billion from PHP130 billion on April 8.
The total amount of bids received was PHP158.53 billion, with a bid coverage ratio of 1.1323.
In the last auction, its average rate was 1.9312 percent.
“Yields accepted remained low but narrowed to a range of 1.8900-1.9400 percent,” BSP Deputy Governor Francisco Dakila Jr. said in a statement.
The oversubscription during the auction, according to Dakila, was due to “market players’ persistent preference for the BSP bill.”
“The normalization of liquidity conditions in the financial sector amid sufficient supply,” he stated of the debt paper auction’s outcome.
“The BSP’s monetary operations will continue to be guided by its assessment of the most recent liquidity conditions and market developments,” he said.
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