MANILA: The Bangko Sentral ng Pilipinas (BSP) on Friday reduced the total volume offering of the BSP bills (BSPB) to PHP160 billion.In a statement on Friday, BSP Deputy Governor Francisco Dakila Jr. said the allocation mix was lowered to PHP90 billion from PHP100 billion for the 28-day tenor and PHP70 billion from PHP80 billion for the 56-day tenor.The weighted average interest rate for the 28-day tenor declined by 1.56 basis points to 6.6595 percent.Dakila said the average interest rate of the 56-day tenor also fell by 1.91 basis points to 6.6406 percent.The range of accepted yields widened to 6.6000 to 6.6700 percent for the 28-day BSPB but narrowed to 6.6000 to 6.6530 percent for the 56-day BSPB.Total tenders reached PHP210.213 billion."Looking ahead, the BSP's monetary operations will continue to be guided by its assessment of prevailing liquidity conditions and market developments," Dakila said.Source: Philippines News Agency