MANILA – High domestic liquidity condition continues to drive the demand for Bangko Sentral ng Pilipinas’ (BSP) 28-day Bills, which posted a lower rate on Friday.
BSP offered the debt paper for PHP100 billion and tenders reached PHP156.810 billion. The auction committee made a full award.
The average rate of the securities, which is among the central bank’s excess liquidity mopping tools, declined to 1.7684 percent from last week’s 1.7764 percent.
BSP Deputy Governor Francisco Dakila Jr., in a statement, said accepted yields of the central bank’s debt paper narrowed anew this week to between 1.7425-1.7880 percent from last week’s 1.7425-1.8000 percent.
He said BSP bills auction results this week “continue to support the view that market conditions remain stable amid sustained ample liquidity in the financial system.”
“Moving forward, the BSP’s monetary operations will remain guided by its latest assessment of the liquidity conditions and market developments,” he added. (PNA)
