MANILA, Sept 18 (Reuters) - The Philippine central bank on
Friday issued 20 billion pesos ($413.74 million) worth of
short-term bonds in its maiden securities offering.
The Bangko Sentral ng Pilipinas said it received a total of
43.36 billion of bids for its 28-day bonds with a weighted
average yield rate of 1.8355%.
The regular offer of bills and bonds via auctions, which
will be scaled up gradually depending on market response, is
part of its initiative to shift to more market-based monetary
operations. The law was amended in 2019, allowing the central
bank to issue securities.
($1 = 48.34 Philippine pesos)