The Bank of Jamaica says its efforts to withdraw $50 billion from the financial system on Wednesday to help stabilise the dollar fell just short with investors offering slightly less than the targeted amount.
The central bank received just over 300 bids, valued at a little under the $50 billion goal and an average interest rate of just below 6 per cent.
Bid rates ranged from the mid-5 per cent range to the mid-7 per cent range.
The total value of certificates of deposit now in the system has risen to nearly $138 billion.
These instruments remain the Bank of Jamaica's main tool for managing liquidity.
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