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Page 64 - ரிஜால் வணிகரீதியானது வங்கி கார்ப் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Central bank awards P100 billion in 28-day bills

January 29, 2021 | 6:46 pm Font Size         BW FILE PHOTO THE BANGKO SENTRAL ng Pilipinas (BSP) fully awarded P100 billion in short-term securities on Friday as the financial system remains flush with liquidity. The BSP’s offer of 28-day bills was oversubscribed as tenders reached P150.9 billion. However, Friday’s bids were lower than the P162.8 billion in demand seen last week. “The sustained robust demand for the BSP bills shows that financial system liquidity remains ample as cash demand continues to normalize,” BSP Deputy Governor Francisco G. Dakila, Jr. said in a statement. The BSP has made full awards of its offer of 28-day bills for 18 consecutive auctions since it launched its weekly securities auctions in September.

$4 2B in hot money exits the Philippines in 2020 amid pandemic

Reporter Photo by Mackenzie Marco on Unsplash Over $4 billion in foreign portfolio investments (FPI) left the Philippines last year amid the coronavirus pandemic. “Hot money,” called as such for the ease by which these funds enter and exit an economy, yielded a net outflow of $4.24 billion in 2020, more than double the $1.9 billion net outflow logged in 2019, data from the Bangko Sentral ng Pilipinas (BSP) released Thursday evening showed. This is the highest net outflow since at least 2012, based on available BSP data. The BSP had projected hot money to yield $2.8 billion net inflows for 2020. “The net outflows may be broken down to net outflows in the following instruments: Philippine Stock Exchange (PSE)-listed shares ($3.3 billion); Peso government securities (GS) ($931 million); and other portfolio instruments ($22 million),” the central bank said.

Peso retreats on record GDP decline

January 28, 2021 | 9:00 pm Font Size AAA THE peso weakened versus the dollar on Thursday as the country logged its worst recession on record. The local unit closed at P48.11 per dollar on Thursday, shedding 3.5 centavos from its P48.075 finish on Wednesday, data from the Bankers Association of the Philippines showed. The peso opened Thursday’s session lower at P48.115 per dollar. Its intraday low was at P48.145, while its best showing for the session was at P48.097 against the greenback. Dollars exchanged increased to $1.188 billion on Thursday from $1.123 billion on Wednesday. The record gross domestic product (GDP) contraction last year caused the peso to decline versus the dollar, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said. 

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