PNA
03 Feb 2023, 18:38 GMT+10
MANILA - Strong demand for the Bangko Sentral ng Pilipinas' (BSP) 28-day bill resulted in the rise of the debt paper's interest rate on Friday.
Auction results released by the central bank showed that the average rate of the bill rose to 6.3584 percent from 6.3545 percent during the auction last Jan. 27.
The BSP lowered the offer volume in this week's auction to PHP150 billion from last week's PHP190 billion.
The auction committee made a full award after tenders amounted to PHP167.222 billion.
In a statement, Bangko Sentral ng Pilipinas (BSP) Deputy Governor Francisco Dakila Jr. said yields accepted in this week's bill auction "shifted higher but narrowed to a range of 6.2000-6.4100 percent."
"The results of the BSP bill auction came amid strong demand from market participants who had previously noted that they would be reallocating some of their assets towards the BSP bill," he said.
He added the central bank's "monetary operations will continue to be guided by its assessment of the prevailing liquidity conditions and market developments." (PNA)
Get a daily dose of Philippine Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Philippine Times.
More InformationNEW YORK, New York - In a rare move, United Nations Secretary-General Antonio Guterres has taken a dramatic constitutional step ...
BUKITTINGGI, Indonesia: On December 2, Mount Marapi in West Sumatra province, Indonesia, erupted, sending hot ash clouds several miles (kilometers) ...
PHILADELPHIA, Pennsylvania: In a measure supporters claimed will increase public safety amid high violent crime rates, Philadelphia City Council passed ...
CHICAGO, Illinois: As winter sets in and with cold weather just around the corner, Chicago is struggling to house hundreds ...
BOLOGNA, Italy: Due to fears of a collapse, local officials have secured the area around one of two 12th century ...
MUNICH, Germany: The heavy snow and icy conditions that hit Bavaria, Germany, canceled flights and long-distance trains out of Munich, ...
BEIJING, China: Falling hog prices, mounting losses and rising debt are putting pressure on the biggest pig breeders in China, ...
NEW YORK, New York - A decline in labor costs as measured by ADP failed to boost U.S. Markets Wednesday."ADP's ...
WASHINGTON D.C.: A U.S. auto safety regulator said this week it is opening an investigation into 73,000 Chevrolet Volt plug-in ...
NEW YORK: This week, a New York judge approved legal settlements to end lawsuits that halted the state's legal cannabis ...
NEW YORK, New York - U.S. stocks spent most of Tuesday meandering, with the major indices closing out the day ...
DEARBORN, Michigan: This week, Ford said a six-week United Auto Workers (UAW) strike cut its sales by some 100,000 vehicles ...