MANILA – The Bangko Sentral ng Pilipinas (BSP) said total demand for its 28-day and 56-day debt papers increased to PHP148.55 billion.
In a statement on Friday, the central bank said it continued to lower the total volume offering for the BSP bill auction to PHP110 billion, with the allocation for the 28-day and 56-day tenors reduced to PHP80 billion from PHP90 billion and PHP30 billion from PHP65 billion, respectively.
For the 28-day debt paper, the total amount tendered reached PHP102.5 billion.
For the 56-day BSP bills, total tenders amounted to PHP46 billion.
"With the oversubscription, the BSP fully awarded its offerings for the two tenors. The resulting weighted average interest rates for the 28-day and 56-day tenors fell by 0.4128 basis point (bp) and 1.9925 bps to 6.7695 percent and 6.7591 percent, respectively," the BSP said.
The BSP said the range of accepted yields was at 6.75 percent to 6.78 percent for the 28-day BSP bill, and 6.75 percent to 6.77 percent for the 56-day BSP bill.
"Looking ahead, the BSP’s monetary operations will continue to be guided by its assessment of prevailing liquidity conditions and market developments," the BSP said. (PNA)
