Philippines awards $513 million in T-bills
MANILA: Following are the results of the Philippine Bureau of the Treasury's (BTr) auction of T-bills on Monday:
BTR awards 28.6 billion Philippine pesos ($512.58 million), above 25 billion Philippine pesos programme
Tenders total 98.3 billion pesos
BTr awards 8 billion pesos of 91-day T-bills at avg rate of 5.451% versus previous auction avg of 5.452%
BTr awards 8 billion pesos of 182-day T-bills at avg rate of 5.524% versus previous auction avg of 5.565%
BTr awards 12.6 billion pesos of 364-day T-bills at avg rate of 5.656% versus previous auction avg of 5.680%
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
2 days ago
- Business Recorder
Asian currencies: Taiwan dollar hits 3-year high
BENGALURU: The Taiwan dollar jumped to a more than three-year high on Friday on a weaker greenback, while other emerging Asian currencies were steady and equities mixed as investors exercised caution ahead of looming US tariff deadlines. Taiwan's currency hit its strongest level since early-April 2022 at 28.919 per US dollar, bucking the broader trend. Traders attributed the currency's ascent to expectations of Federal Reserve rate cuts, a weaker US dollar, and the continued flow of foreign capital into the island. The currencies of other developing Asian nations were largely steady. The Thai baht slipped 0.1% and the South Korean won dropped 0.5% but logged its best week since June 2. The Philippine peso was up 0.2%. The dollar inched lower against a basket of currencies, as markets priced in deeper US rate cuts. Speculation that President Donald Trump could name a more dovish successor to Fed Chair Jerome Powell also added to the expectations. Investors will closely watch the US Personal Consumption Expenditures (PCE) index data - the Fed's preferred inflation gauge - due later in the day, for rate cues. 'Combination of the 'sell USD' trade, consistent stronger Chinese yuan fix seen over the last few sessions and geopolitical continue to fuel the rally in Asia excluding Japan,' OCBC currency strategist Christopher Wong said. Equities in emerging Asia were mixed as investors turned their attention to progress in trade talks ahead of the July 9 deadline for Trump's reciprocal tariffs.
Business Recorder
5 days ago
- Business Recorder
Philippines raises $618 million in T-bonds
MANILA: Following are the results of the Philippine Bureau of the Treasury's (BTr) auction of reissued 2028 and 2050 T-bonds on Wednesday: BTr partially awards 35.08 billion Philippine pesos ($618.07 million) at an average rate of 5.760% for 2028 T-bonds and 6.649% for 2050 T-bonds BTr awards 20 billion pesos for 2028 T-bonds and 15.08 billion pesos for 2050 T-bonds, versus 40 billion pesos programme
Business Recorder
6 days ago
- Business Recorder
Asian currencies slide during vigil over Iran retaliation
BENGALURU: Emerging Asian currencies and equities fell on Monday as fears of retaliation by Iran following US strikes on its nuclear facilities drove investors to seek shelter in safe-haven assets. The MSCI index of emerging market currencies edged down 0.3% and regional currencies weakened, with the Philippine peso and Thai baht declining 0.8% and 0.6%, respectively. The units were on track for their lowest levels since April 9 and May 20, respectively. Taiwan's dollar lost 0.4% and the South Korean won shed 0.6%. The Indonesian rupiah fell 0.6%, its lowest since mid-May. The country's central bank will continue intervening in currency markets to ensure the rupiah reflects its fundamentals, a senior official said. The search for safety sent investors rushing to buy the greenback, which extended last week's rally and gained 0.2%. Meanwhile, oil prices jumped to a five-month high as the conflict between the US and Iran increased the likelihood of supply disruptions. Iran's potential retaliation could drive up shipping insurance and freight costs, and lead to longer delivery times, exposing vulnerabilities in global trade, said Christopher Wong, currency strategist at OCBC. 'High-beta and net-oil importing Asia FX such as the Philippine peso, Indian rupee, South Korean won, Taiwan dollar, and Thai baht may be affected more than other Asian currencies.' Rising oil prices typically pressure regional currencies as most Asian economies are net oil importers and higher prices widen current account deficits. The Malaysian ringgit slipped 0.7%, tracking regional peers, despite Malaysia's position as the only net oil and gas exporter among major emerging Asian economies.
