Rate of the Philippines' treasury bills (T bills) posted mixed results Monday, with demand for all tenors remaining strong.
Average rate of the 91 day paper posted an uptick to 3.013 percent from 3.003 percent during the auction last February 24.
The Bureau of the Treasury (BTr) offered this tenor for PHP6 billion and the auction committee made a full award. Total bids reached PHP12.813 billion.
On the other hand, rate of the 182 day paper slipped to 3.324 percent from last week's 3.365 percent.
The auction committee made a full award of PHP6 billion while bids were more than twice at PHP14.498 billion.
Average rate of the 364 day paper declined to 3.684 percent from 3.787 percent in the previous auction.
The auction committee upsized the offer to PHP11.2 billion, and made a full award after bids totaled to PHP33.06 billion.
National Treasurer Rosalia de Leon said rates generally remained low due to anxieties on the impact of coronavirus disease 2019 (Covid 19) on the domestic economy.
She said that while the rate of the shortest tenor paper posted an uptick, the 91 day T bill rate's level Monday is still lower than the 3.628 percent in the secondary market in the morning session.
SOURCE: PHILIPPINES NEWS AGENCY