MIXED. Average rate of the Bangko Sentral ng Pilipinas’ (BSP) bills register mixed results on Friday (Nov. 10, 2023), central bank data show. This, despite the strong demand both for the 28- and 56-day tenors, which BSP Deputy Governor Francisco Dakila Jr. attributed to high domestic liquidity situation. (PNA file photo)
MANILA – Rates of the Bangko Sentral ng Pilipinas’ (BSP) bills moved to different paths Friday but demand for both the 28- and 56-day tenors were strong.
BSP kept the offer volume for the shorter-dated securities at PHP120 billion and the longer-dated tenor at PHP40 billion. Both were fully awarded.
Bids for the 28-day paper reached PHP137.335 billion while it amounted to PHP44.65 billion for the 56-day.
Average rate of the shorter-dated debt instrument went down to 6.8372 percent from 6.8385 percent during the auction last November 6.
Rate of the 56-day tenor, on the other hand, rose to 6.8677 percent from 6.8483 percent in the previous auction.
“The results of the BSP bill auction reflected ample liquidity in the system amid the recent policy rate hike. Looking ahead, the BSP’s monetary operations will continue to be guided by its assessment of the latest liquidity conditions and market developments,” BSP Deputy Governor Francisco Dakila Jr. said in a statement. (PNA)
