Daily TribuneTotal tenders reached P128.105 billion, resulting in the full award of the securities
The Bangko Sentral ng Pilipinas' 28-day securities rose amid strong demand from investors, data from the Bangko Sentral ng Pilipinas show.
Per BSP data, average rate of the debt paper went up to 4.9781 percent from 4.7093 percent during the auction on 7 October.
In a statement, BSP Deputy Governor Francisco Dakila Jr. said yields accepted in this week's BSP bill auction "shifted higher and slightly widened to a range of 4.7000 percent to 5.2125 percent."
Auction results
"The results of the BSP bill auction show a complete pass-through of the BSP's 22-September policy rate hike along with renewed expectations of further tightening in the global financial market," he said.
The BSP, moreover, lowered the offer volume to P120 billion from the previous week's P140 billion.
Total tenders reached P128.105 billion, resulting in the full award of the securities.
The BSP "will continue to conduct its monetary operations guided by its assessment of the latest liquidity conditions and market developments," Dakila added.
