The Bank of Jamaica will be taking another $19 billion out of circulation on Wednesday through the issue of a fixed-rate certificate of deposit at 6% per annum.
The move is part of the central bank's ongoing efforts to stabilise the exchange rate.
Private financial institutions, including commercial banks, security dealers and pension funds, will compete for $18 billion of the offer.
The remaining $1 billion will be allocated to public sector agencies such as the National Insurance Fund, National Housing Trust and the Jamaica Mortgage Bank.
The minimum investment is $100,000.
The instrument will mature on October 3 this year and the interest earned will be taxed at 25%.
comments powered by Disqus
_logo.png){kind=logo}
All feeds
