Manila: The average interest rate of the Bangko Sentral ng Pilipinas' (BSP) 28-day securities decreased by 3.08 basis points to 4.8208 percent on Friday. The central bank successfully achieved a full award of PHP90 billion, which was lower than the previous week's offering of PHP100 billion. Tenders for the securities amounted to PHP111.39 billion, resulting in a bid-to-cover ratio of 1.24 percent.

According to Philippines News Agency, the accepted yields for these securities ranged narrowly between 4.6650 and 4.9400 percent. The 28-day BSP bill serves as a primary liquidity management tool aimed at absorbing excess funds from the financial system. The recent decline in yields suggests ongoing demand for central bank securities, as markets continue to monitor global monetary trends and domestic economic indicators.