MANILA – The rates of Treasury bills (T-bills) rose on Monday and the Bureau of the Treasury (BTr) made partial award across the board despite oversubscription.
The average rate of the 91-day paper rose to 5.550 percent, the 182-day’s to 5.812 percent and the 364-day’s to 6.073 percent.
These were at 5.314 percent, 5.700 percent and 5.991 percent for the three-month, six-month and one-year papers during the auction last April 11.
The BTr offered all tenors for the PHP5 billion but only awarded PHP1.5 billion for the three-month paper, PHP3.45 billion for the six-month and PHP4.225 billion for the one-year T-bill.
Total bids for the 91-day T-bill reached PHP5.2 billion while it amounted to PHP7.05 billion for the 182-day and PHP7.575 billion for the 364-day tenor.
The rise in the T-bill rates is line with the adjustment in the central bank’s key policy rates, which have been hiked by a total of 425 basis points from May 2022 to March this year. (PNA)
