The Bangko Sentral ng Pilipinas increased its securities offering to P180 billion, with the allocation retained at P100 billion for the 28-day tenor, but raised to P80 billion from P60 billion for the 56-day tenor.
Total tenders reached P194.622 billion and resulted in bid-to-cover ratios of 1.14x and 1.01x for the 28-day and 56-day tenors, respectively, it said Friday.
The BSP awarded in full its offering for the 28-day BSPB and accepted P79.662 billion out of the P80.972-billion total tenders for the 56-day BSP bills.
The respective weighted average interest rates for the 28-day and 56-day tenors declined by 0.13 basis point (bp) and 0.27 bp to 6.6751 percent and 6.6597 percent.
Meanwhile, the range of accepted yields widened for both tenors—6.6400 percent to 6.6880 percent for the 28-day BSPB and 6.6000 percent to 6.6700 percent for the 56-day BSPB.
“Looking ahead, the BSP’s monetary operations will continue to be guided by its assessment of prevailing liquidity conditions and market developments,” it said.