LOWER RATE. Bangko Sentral ng Pilipinas (BSP) Deputy Governor Francisco Dakila Jr. in this file photo. The average rate of the BSP’s 28-day Bill went down on Friday (April 14, 2023) due to strong demand for the debt paper. (PNA file photo)
MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day Bill slipped on Friday amid strong demand.
The average rate of the debt paper declined to 6.7397 percent from 6.8199 percent when it was last auctioned on March 31.
The BSP hiked the offer volume to PHP150 billion from PHP130 billion previously.
Bids for the debt paper reached PHP241.623 billion, resulting in the full award of the securities.
BSP Deputy Governor Francisco Dakila Jr., in a statement, said yields accepted in this week’s securities auction “shifted lower and narrowed to a range of 6.5775 (percent) to 6.8450 percent.”
“The results of the BSP Bill auction continued to reflect eligible participants’ strong demand for BSP Securities. Looking ahead, the BSP’s monetary operations will continue to be guided by its assessment of the prevailing liquidity conditions and market developments,” he said. (PNA)
