MANILA – The Bureau of the Treasury (BTr) fully awarded the six-month and one-year Treasury bills (T-bills) on Monday despite the rise in rates but rejected all bids for the three-month paper due to lack of demand.
The average rate of the 182-day T-bill inched up to 5.177 percent and the 364-day’s to 5.577 percent.
Had the auction committee awarded the 91-day paper, its rate would have increased to 4.864 percent from 4.413 percent during the auction last Feb. 20.
Rates of the six-month and one-year papers in last week’s T-bill auction stood at 5.060 percent and 5.455 percent, respectively.
The BTr offered all tenors for PHP5 billion each and tenders amounted to PHP4.12 billion, PHP9.46 billion and PHP9.07 billion for the 91-day, 182-day and 364-day tenors, respectively.
National Treasurer Rosalia de Leon earlier traced the rate upticks of government securities partly to the rise of the Bangko Sentral ng Pilipinas’ (BSP) key policy rates, which was made to help address the elevated domestic inflation rate. (PNA)
