Bank of Jamaica
The Bank of Jamaica says it received 238 applications, valued at $54.5 billion for the $30 billion it sought to raise on Monday.
The central bank issued a 26-month, 6.5% per annum fixed rate Certificate of Deposit, but it accepted only 123 bids valued at J$30 billion.
The average yield for these successful bids was 6.24% while the lowest bid was for J$500 million at 5.85%.
The highest bid was for J$1.1 billion dollars at 6.44% per annum.
Redeeming currency
The Bank of Jamaica also disclosed that most of the $21 billion in currency it printed in December last year in order to facilitate Christmas spending will be redeemed or taken out of circulation this month.
The bank added that 77.4% of the currency issued in December for the last five years was removed from circulation by January.
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