The Philippine government plans to raise a total P150 billion from the domestic capital market through the weekly auction of treasury bills and bonds in October.
India, one of the largest economies in South Asia, has been identified as a destination for Filipino exporters with its growing market for Philippine products and the existence of preferential trade agreements.
The national treasury rejected all bids for the P30-billion, three-year treasury bonds it offered at auction Tuesday to prevent the cost of borrowing from rising.
Treasury bill (T-bill) yields were mixed at Monday’s auction, with average rate on the 91-day debt paper up slightly from previous auction after data last week showed inflation accelerating in August.