The Bank of Jamaica says 326 bids valued at $62.43 billion were submitted for the $39 billion it wanted to take out of circulation with a 6.25% per annum fixed rate Certificate of Deposit.
The instrument was floated Tuesday as part of the central bank's efforts to contain inflation and defend the dollar.
The central bank also says it accepted only 255 bids valued at $39 billion.
The average yield was 5.99%.
The lowest bid submitted was for $200 million at 5.49%, while the highest bid was for $50 million at 7.98%.
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