Central bank fully awards offer of short-term bills
April 30, 2021 | 6:17 pm
BW FILE PHOTO
THE BANGKO SENTRAL ng Pilipinas (BSP) made a full award of the 28-day bills it offered on Friday as rates dropped due to the peso’s appreciation and flows from tax payments.
The central bank raised P100 billion as planned from its auction of the one-month securities, with demand amounting to P151.5 billion, making the offer 1.5 times oversubscribed. This was higher than the P141.25 billion in bids for the previous auction.
The average rate of the 28-day debt papers stood at 1.8052%, down by 2.34 basis points from the 1.8286% quoted previously. Investors asked for yields ranging from 1.79% to 1.82%, slightly lower than the 1.7925% to 1.844% band seen a week ago.
BusinessWorld
April 29, 2021 | 9:00 pm
BW FILE PHOTO
THE PESO rebounded versus the greenback on Thursday as the US Federal Reserve expressed its commitment to retain policy support and following the extension of local restriction measures, which could hurt imports.
The local unit closed at P48.315 per dollar yesterday, strengthening by 16.2 centavos from its P48.477 finish on Wednesday, based on data from the Bankers Association of the Philippines.
The peso opened the session at P48.45 per dollar, which was also its worst showing for the day. Meanwhile, its strongest level was at P48.29 against the greenback.
Dollars exchanged slipped to $837.5 million yesterday from $854.98 million on Wednesday.
BusinessWorld
April 30, 2021 | 12:33 am
PHILIPPINE STAR/ EDD GUMBAN
THE country’s balance of payments (BoP) stood at a deficit for the third straight month in March as the National Government continued to pay its dollar obligations, according to the Bangko Sentral ng Pilipinas (BSP).
The BoP posted a deficit of $73 million in March, reversing the $448-million surplus a year earlier, based on data released by the central bank on Thursday. It was, however, 96% smaller than the $2.019-billion deficit recorded in February.
“The BoP deficit in March 2021 reflected outflows arising mainly from the National Government’s net withdrawal of its foreign currency deposits with the BSP, which were largely used for debt servicing,” the BSP said.
BusinessWorld
April 29, 2021 | 12:05 am
UNIONBANK OF THE Philippines, Inc. has submitted an application for a digital bank license, Bangko Sentral ng Pilipinas (BSP) Deputy Governor Chuchi G. Fonacier said on Wednesday.
“They [UnionBank] are the newest applicant of a digital bank license, the fourth one,” Ms. Fonacier confirmed in a Viber message.
Ms. Fonacier earlier said there were currently three applicants for a digital banking license from partnerships between local and foreign players.
UnionBank Senior Executive Vice-President and Chief Technology and Operations Officer Henry Rhoel R. Aguda likewise announced this at a webinar hosted by Malaysia-based FintechNews on Wednesday.
“We’ve already submitted our application [for a digital bank license], so the deputy governor is hopefully going to look at it favorably,” Henry Rhoel R. Aguda said, referring to Ms. Fonacier who was also among the speakers at the event.
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