Manila: Results were mixed during the Treasury bills (T-bills) auction on Monday, with the Auction Committee increasing the awarded bids for the 90- and 181-day T-bills while partially awarding the 363-day security.

According to Philippines News Agency, the Auction Committee increased the awarded bids for the 90- and 180-day T-bills to PHP15 billion and PHP30 billion, respectively. The 90-day T-bills fetched an average rate of 5.142 percent, while the 181-day T-bill rate was 5.700 percent.

Meanwhile, the acceptance of the 363-day T-bills was capped at PHP4.8 billion, lower than the PHP7 billion initial offer. The 363-day T-bills' average rate settled at 6.163 percent.

The auction was nearly twice oversubscribed, attracting PHP68.3 billion in total tenders. With its decision, the committee raised a total of PHP32.8 billion, lower than the PHP35 billion initial offer.