Philippines rejects all bids at 91-day T-bill sale
Published: 27 Sep 2009 21:51:18 PSTMANILA, Sept 28 - The Philippine Bureau of Treasury rejected all bids at the regular auction of 91-day bills on Monday because of high rates.
Banks bid 1.17 billion pesos for the 2.0 billion pesos worth of bills on sale at an average rate of 4.231 percent. At the previous auction on Sept 8, the bill fetched an average rate of 3.992 percent.
(For previous auction results, click on [ID:nMNB002461] ($ 1 = 47.315 pesos)
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Reuters
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