The Bank of Jamaica says 274 bids valued at $32 billion were submitted for the $6.5 billion it offered for a 28-day certificate of deposit.
The CDs were offered at a rate of 6.5% per annum.
The central bank wants to mop-up excess liquidity in the financial systen in order to ease the pressure on the Jamaican dollar.
The BOJ also stressed that it accepted only 49 bids valued at $6.5 billion.
The average yield for the successful bids was 5.94% per annum; the lowest bid was for $353 million at 5% per annum.
Meanwhile, the highest bid was for $500 million at 9% per annum and the highest bid which got full allocation was for $2.56 billion at 6% per annum.
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