The Bank of Jamaica says it received 331 bids or $59 billion from investors for its latest 6% fixed rate certificate of deposit aimed at helping to stabilise the dollar.
The central bank was seeking to withdraw $49 billion from circulation and accepted 263 bids totalling that amount at an average interest rate of 5.95% per year.
The lowest bid was 5.5% for $4.4 million, while the highest was 9% for $100 million.
This move comes after the BOJ intervened in the foreign exchange market four times last week, injecting US$120 million to ease pressure on the local currency following the economic fallout from Hurricane Melissa.
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