MANILA - The Bureau of Treasury's issuance of its first-ever retail dollar bonds supports financial inclusion and can help speed up recovery, the Bangko Sentral ng Pilipinas said Monday.
At only $300 (P15,300) required minimum investment, the RDBs are accessible to small investors and support the country's financial inclusion agenda, BSP Governor Benjamin E. Diokno said in a statement.
Individual investors can buy RDBs via e-banking apps as well as transfer funds to their bank accounts using PESONet and InstaPay, Diokno said.
“Retail Dollar Bonds provide a special opportunity for small and mid-sized investors to earn and, at the same time, help fund the government’s recovery and resiliency programs,” Governor Diokno said in a speech during the recent launch of the RDBs.
“[RDBs] could be particularly attractive to our overseas Filipinos who have funds to invest. This bodes well for them and their families,” the Governor added.
The funds from the retail dollar bonds, together with the central bank's accommodative monetary policy, remain crucial for recovery, Diokno said.
"Taken together, these initiatives will help the national government fight the adverse effects of the pandemic through targeted fiscal interventions, which are aimed at boosting market confidence and safely reopening more sectors of the economy,” he said.
Diokno said the central bank is continuously implementing regulations to support its goals such as easier rules for opening bank accounts, liberalization of foreign exchange rules and promotion of financial digitalization.
Due to high demand, the BTr sold a total of $866.2 million of onshore RDBs from the issuance, which is over twice the original goal of $400 million.
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