The Bank of Jamaica says it will be paying investors 6.25% per year on another 30 day fixed rate Certificate of Deposit totaling J$31 billion.
The instrument is being issued in a continuing effort to prevent a further slide in the value of the dollar as well as to contain the rate of inflation.
Private investors must compete for $29.45 billion of this amount, while the remaining $1.55 billion will be allocated to public sector institutions.
The interest paid on the instrument will be taxed at a rate of 25 per cent.
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