Manila: Results were mixed in Monday's Treasury bills (T-bills) auction, with the Auction Committee raising the awarded bids for the 91- and 182-day T-bills to PHP12 billion, while partially awarding the 364-day security.

According to Philippines News Agency, the 91- and 182-day T-bills fetched average rates of 4.542 percent and 4.649 percent, respectively-prompting the Auction Committee to double the non-competitive bids for these tenors. Total demand for the 91-day tenor amounted to PHP60.4 billion with the Bureau of the Treasury (BTr) accepting PHP16.8 billion, higher than the PHP12 billion initial offer.

For the 182-day security, tenders reached PHP44.2 billion. Of the total, PHP16.8 billion was awarded, also higher than the PHP12 billion program. Meanwhile, acceptance of the 364-day T-bills was capped at PHP7.1 billion with an average of 5.052 percent.

With its decision, the BTr raised PHP40.7 billion from the PHP33 billion initial program.