Rate of the Philippines’ treasury bills (T-bills) rose on Monday (Jan. 16, 2023), mirroring the rise in domestic interest rates. Bureau of the Treasury (BTr) fully awarded all tenors, which, in turn were all oversubscribed. (File photo) 

MANILA – Bureau of the Treasury (BTr) fully awarded the treasury bills (T-bills) across-the-board on Monday despite the rate upticks.

Each of the 91-day, 182-day, and 364-day debt papers were offered for PHP5 billion and all posted oversubscriptions.

Bids for the three-month paper amounted to PHP16.321 billion while it reached PHP15.2 billion for the six-month paper and PHP14.37 billion for the one-year securities.

In line with the hikes in the Bangko Sentral ng Pilipinas’ (BSP) key rates as well as expectations for further jumps in the coming weeks, T-bill rates rose in this week’s auction.

Average rate of the 91-day paper inched up to 4.250 percent from last week’s 4.232 percent.

Rate of the 182-day T-bill increased to 4.967 percent and the 364-day's to 5.448 percent.

These were previously at 4.959 percent for the six-month paper and at 5.393 percent for the one-year debt securities in last week’s auction. (PNA)