Faced with excess demand for foreign exchange, the Bank of Jamaica will be floating a 6.25% per annum 28-day Certificate of Deposit (CD) on Wednesday in order to mop-up $6.5 billion in liquidity.
Some $6.175 billion will be allocated on a competitive bidding basis, while $325 million will be allocated on a non-competitive basis.
The instrument will mature on February 21; the interest is taxable at 25% and the minimum subscription or amount which can be purchased is $100,000.
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