The national government raised 94.75 percent, or P170.228 billion, of its P180-billion programmed borrowings for June.
Maturing in 19 years and 11 months, the long-term debt papers were awarded with an average rate of 6.860 percent, according to the BTr. The Treasury said the auction was 1.7 times oversubscribed, with total tenders reaching P51.1 billion. “US dollar peso exchange rate stabilized recently at 58.80 levels, among 20-month highs; global crude oil price near 2-month highs; higher-for-longer/more conservative stance by most Fed official recently to make sure inflation is well anchored/in the right direction towards the central bank’s inflation target,” he said.
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