Manila - The Bangko Sentral ng Pilipinas (BSP) bills exhibited mixed rate movements in the latest auction, even as demand remained strong for both the 28- and 56-day tenors. BSP maintained the offer volume for the shorter-dated securities at PHP120 billion and the longer-dated tenor at PHP40 billion, with both fully awarded.
According to Philippines News Agency, bids for the 28-day paper reached PHP137.335 billion, while bids for the 56-day tenor amounted to PHP44.65 billion.
The average rate of the shorter-dated debt instrument decreased slightly to 6.8372 percent from 6.8385 percent in the November 6 auction. In contrast, the rate for the 56-day tenor increased to 6.8677 percent from 6.8483 percent in the previous auction. BSP Deputy Governor Francisco Dakila Jr. stated that the results reflected ample liquidity in the system, following the recent policy rate hike. He emphasized that BSP's monetary operations would continue to be guided by the assessment of liquidity conditions and market developments.