The Bank of Jamaica on Thursday said it received 296 bids, valued at $49.4 billion from investors for the $31 billion it wanted to take out of circulation in order to stabilise the dollar and contain inflation.
The bank, however, said it accepted only 225 of these bids, amounting to $31 billion.
The average interest rate paid by the bank for these deposits was 5.9% per year.
The highest bid rate was 8% per year for $500 million, while the lowest bid rate was 5.5% for $158.5 million.
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