Treasury bill rates average higher at the auction Monday, with demand easing sharply from last week.
Liquidity got a strong boost last week following the Bangko Sentral ng Pilipinas’ decision to lower the banks’ deposit reserve requirement.
T-bill yields rose across the board, with the benchmark 91-day debt rising to 5.414 percent from 5.196 percent. Average rates on the 183-day bill rose to 5.474 percent from 5.005 percent while that on the 364-day bills rose to 5.540 percent to 5.487 percent.
Total tenders reached P38.5 billion, nearly double the P20 billion offer at Monday’s auction. Last week, total bids reached P76.3 billion.
