Rate of BSP 28-day debt paper declines
The rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day debt paper fell Friday which a monetary executive traced to ample supply of domestic liquidity in the economy, according to a report by Philippine News Agency.
Data released by the central bank showed that average rate of the securities slipped to 1.8052 percent from 1.8286 percent during the auction last April 23.
BSP offered the debt paper for PHP100 billion and tenders reached PHP151.5 billion.
This week’s offer volume is higher than last week’s PHP90 billion, which was met by PHP145.25 billion worth of bids.
BSP Deputy Governor Francisco Dakila Jr., in a statement, said this week’s BSP bills auction results “continue to reflect normal market conditions and ample liquidity in the financial system”.
“Looking ahead, the BSP’s monetary operations will remain guided by its assessment of the latest liquidity conditions and market developments,” he added.
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