MANILA: The Bangko Sentral ng Pilipinas (BSP) on Friday reduced the total volume offering of the BSP bills (BSPB) to PHP160 billion. In a statement on Friday, BSP Deputy Governor Francisco Dakila Jr. said the allocation mix was lowered to PHP90 billion from PHP100 billion for the 28-day tenor and PHP70 billion from PHP80 billion for the 56-day tenor. The weighted average interest rate for the 28-day tenor declined by 1.56 basis points to 6.6595 percent. Dakila said the average interest rate of the 56-day tenor also fell by 1.91 basis points to 6.6406 percent. The range of accepted yields widened to 6.6000 to 6.6700 percent for the 28-day BSPB but narrowed to 6.6000 to 6.6530 percent for the 56-day BSPB. Total tenders reached PHP210.213 billion. "Looking ahead, the BSP's monetary operations will continue to be guided by its assessment of prevailing liquidity conditions and market developments," Dakila said. Source: Philippines News Agency