MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day term deposit facility (TDF) fell Monday as demand remained strong.
Data released by the central bank showed that the average rate of the debt paper dropped to 1.8795 percent from 1.9156 percent during the auction last April 5.
BSP offered the debt paper for PHP80 billion, same as last week’s offering.
Tenders reached PHP114.176 billion. The auction committee made a full award.
In a statement, BSP Deputy Governor Francisco Dakila Jr. said “results of the BSP bill auction support the view that, amid ample liquidity in the system, market participation continues to normalize following the Lenten holidays.”
“Looking ahead, the BSP’s monetary operations will remain guided by its assessment of the latest liquidity condition and market developments,” he added. (PNA)