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Thursday, March 28, 2024

Investors swarm BSP’s weekly offering

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THE P110-billion worth of term deposits offered by Bangko Sentral ng Pilipinas in its weekly auction remained oversubscribed Wednesday due to investors’ strong demand for the seven-day, 14-day and 28-day instruments.

Data showed total tenders reached P130.47 billion, exceeding the weekly volume of P110 billion.

The week-long deposits worth P50 billion attracted total tenders of P53.36 billion and fetched a weighted average accepted yield of 2.81 percent.

The P40-billion 14-day instruments lured total bids of P46.76 billion, while the month-long deposits amounting to P20 billion attracted total tenders of P30.35 billion.

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The Bangko Sentral raised the total volume of term deposits in the auction on Feb. 21 to P110 billion from P80 billion on strong demand. 

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