BSP Deputy Governor Francisco Dakila Jr. (file photo)
MANILA – The Bangko Sentral ng Pilipinas (BSP) hiked the offer volume for its securities on Monday but the shorter-dated bills attracted lower bids, although both tenors registered rate declines.
BSP data show that both the 28-day and the 56-day debt papers were increased by PHP10 billion to PHP110 billion and PHP30 billion, respectively.
Tenders for the shorter-dated BSP bill only amounted to PHP95.205 billion and the auction committee accepted PHP93.08 billion.
Bids for the 56-day securities reached PHP31.39 billion and the auction committee made a full award.
The rate of the 28-day tenor slipped to 6.7146 percent from 6.7212 percent during the auction last Aug. 25.
The average rate of the 56-day paper also went down to 6.7180 percent from 6.7273 percent in the previous auction.
BSP Deputy Governor Francisco Dakila Jr. said the yield range for the shorter-dated debt paper widened to 6.6875 to 6.7400 percent but those for the 56-day securities remained at 6.6500 to 6.7600 percent.
“The BSP’s monetary operations will continue to be guided by its assessment of prevailing liquidity conditions and market developments,” he added. (PNA)
