SECURITY RATE. Average rate of the Bangko Sentral ng Pilipinas (BSP) 28-day securities slipped on Friday (May 5, 2023) due to strong demand. BSP Deputy Governor Francisco Dakila Jr. said the central bank lowered the offer volume to PHP110 billion and the auction committee made a full award after tenders exceeded the offer level. (PNA file photo)
MANILA – The rate of the 28-day bill of the Bangko Sentral ng Pilipinas (BSP) declined on Friday as demand for the debt paper remained strong.
Data released by the central bank showed that average rate of the securities slipped to 6.7613 percent from 6.7715 percent during the auction on April 28.
BSP lowered the offer volume to PHP110 billion from last week’s PHP150 billion.
The auction committee fully awarded the debt paper after bids reached PHP116.05 billion.
BSP Deputy Governor Francisco Dakila Jr. said in a statement that although the average rate of the debt paper fell, the range of yields accepted during the auction this week remained between 6.6500 percent and 6.8350 percent.
"The results of the BSP Bill auction continued to reflect eligible participants’ sustained demand for BSP Securities," he said.
"BSP’s monetary operations will continue to be guided by its assessment of the prevailing liquidity conditions and market developments." (PNA)
