The Bank of Jamaica (BOJ) is again moving to mop of excess money from the system.
It says it will be offering a 30-day Certificate of Deposit paying 6% per annum as it tries to curb the slide in the value of the Jamaican dollar.
The central bank is aiming to withdraw $45 billion from circulation on Wednesday. Of that amount, $42.75 billion will be made available to the private sector while the public sector will be allocated $2.25 billion.
This latest offer brings the total value of outstanding CDs to $126 billion. The move is part of ongoing efforts to keep the exchange rate below J$161 to US$1.
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