Average rates of the Bangko Sentral ng Pilipinas’ (BSP) term facilities rose Friday, with the 28-day tenor attracting lower demand.
Data released by the central bank showed that the rate of the 28-day securities rose to 6.4484 percent from 6.3761 percent during the auction last August 30.
Average rate of the 56-day securities inched up to 6.5512 percent from last week’s 6.4707 percent.
BSP lowered the offering for the shorter-dated securities to P80 billion from last week’s P100 billion.
Tenders amounted to P68.005 billion, or a bid-to-cover ratio of 0.9 times.
The longer-term securities were offered for P100 billion and were fully awarded after bids amounted to P106.272 billion.
“Looking ahead, the BSP’s monetary operations will continue to be guided by its assessment of prevailing liquidity conditions and market developments,” BSP Deputy Governor Francisco Dakila, Jr. said.
