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Strong demand pulls down T-bill rates

By Joann Villanueva

June 14, 2021, 6:54 pm

MANILA – The rate of Treasury bills declined across-the-board Monday on huge demand given the ample liquidity in the domestic economy. 
 
The average rate of the 91-day paper slipped to 1.118 percent, the 182-day to 1.372 percent, and the 364-day to 1.577 percent. 
 
These were at 1.176 percent, 1.422 percent, and 1.649 percent for the three-month, six-month and one-year paper, respectively, during the auction last June 7.
 
National Treasurer Rosalia de Leon said the auction committee doubled the awarded non-competitive bids because of the high volume of bids. 
 
The Bureau of the Treasury (BTr) offered each tenor for PHP5 billion but awarded PHP7 billion for each.
 
Total bids for the 91-day paper amounted to PHP28.229 billion, while it amounted to PHP34.037 billion for the 182-day T-bill and PHP38.03 billion for the 364-day paper.
 
“Liquidity (were) looking for outlets as RTB (retail treasury bond) maturity further bolstered ample funds onshore searching for yield,” de Leon said. (PNA)

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