Demand for Bangko Sentral ng Pilipinas (BSP) bonds remained strong during Friday’s auction of the one-month notes.
BSP raised the offer size for the 28-day offering to 190 billion pesos from 160 billion pesos.
A total of 230.212 billion offers were received, 1.21 times the amount offered, of which 190 billion were accepted.
The weighted average interest rate fell by 1.2543 basis points to 6.3464 percent.
Acceptable returns have been narrowed down to a range of 6.0000 to 6.4000 percent.
“The BSP auction results continue to reflect continued strong interest on the part of market participants amid ample liquidity in the financial system,” said Central Bank Deputy Governor Francisco D’Aquila Jr.
He added, “Looking forward, BSP Bank’s cash operations will continue to be guided by its assessment of the latest liquidity conditions and market developments.”