MANILA, Dec. 5 -- The 28-day Bangko Sentral ng Pilipinas bill (BSPB) registered a lower yield in this week's auction as investors continued to show strong appetite for short-term securities, the BSP reported Friday.

In a statement, the central bank said the weighted average interest rate (WAIR) for the 28-day tenor fell by 6.45 basis points week-on-week to 4.9461 percent during the Dec. 5 auction.

The BSP kept the offer volume steady at PHP90 billion, while total bids reached PHP137.4 billion, reflecting a bid-to-cover ratio of 1.53, indicative of sustained liquidity in the financial system.

Given the robust demand, the BSP fully awarded the offering, with accepted yields ranging from 4.9000 to 4.9900 percent, slightly wider than the p...