MANILA – The continued strong demand for the treasury bills (T-bills) resulted in sideways movement of their interest rates on Monday.
The average rate of the 91-day paper stood at 1.070 percent, the 182-day at 1.389 percent, and the 364-day at 1.597 percent.
These were at 1.079 percent, 1.402 percent, and 1.604 percent for the three-month, six-month, and one-year paper during the auction last Sept. 13.
The Bureau of the Treasury (BTr) offered all tenors for PHP5 billion each and these were oversubscribed across-the-board.
Total bids for the three-month paper reached PHP21.62 billion while it amounted to PHP26.47 billion for the six-month paper and PHP24.42 billion for the one-year paper.
In a Viber message to journalists, National Treasurer Rosalia de Leon said the “auction committee fully awarded all tenors with strong demand as rates moved sideways.”
De Leon said movements of the debt papers’ rates were “marginal”.
She partly traced the volume of tenders during the auction to PHP20 billion redemption of debt securities. (PNA)
Credit belongs to : www.pna.gov.ph