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April 12, 2024

BSP announces new rediscount rates

The Bangko Sentral ng Pilipinas (BSP) announces that effective February 8, 2024, the applicable rediscount rates for its Peso Rediscount Facility and Exporters’ Dollar and Yen Rediscount Facility are as follows:

a. Peso Rediscount Facility

Loan Maturity

Rate (%)

1 – 90 days

7.8034

91 – 180 days

8.1068

b. Exporters’ Dollar and Yen Rediscount Facility

Loan Maturity

Rate (%)

United States Dollar

Japanese Yen

1 – 90 days

7.81200

2.10470

91 – 180 days

7.81200

2.14360

181 – 360 days

7.81200

2.20963

The peso rediscount rates are based on the BSP overnight lending rate, while the United States dollar and Japanese yen rediscount rates are based on applicable benchmark rates.

The appropriate spread on rediscount rates, as may be determined by the BSP, may change periodically to complement the changes in the BSP’s monetary policy goals and reflect movements in market interest rates.

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