BSP Deputy Governor Francisco Dakila Jr. (PNA file photo)
MANILA – The rates of the Bangko Sentral ng Pilipinas’ (BSP) securities rose on Friday as demand remains strong both for the 28-day and 56-day tenors.
Data released by the central bank showed that the average rate of the shorter-dated BSP bill increased to 6.6619 percent, from 6.6562 percent during the auction on June 30.
The rate of the 56-day paper also increased to 6.6641 percent from 6.6442 percent when it was first offered on June 30.
The BSP reduced the volume offering for the 28-day paper to PHP120 billion from last week’s PHP140 billion.
Tenders reached PHP130.55 billion and the auction committee made a full award.
On the other hand, the central bank doubled the offering for the 56-day tenor to PHP40 billion.
The auction committee made a full award after bids reached PHP43.19 billion.
BSP Deputy Governor Francisco Dakila Jr., in a statement, said the accepted range of yields for the shorter-dated debt paper narrowed to 6.6000 percent to 6.7000 percent, while the range for the longer-dated securities “widened slightly to 6.6000 (percent) to 6.7000 percent.”
“The BSP’s monetary operations will continue to be guided by its assessment of prevailing liquidity conditions and market developments,” he said. (PNA)
