The Bank of Jamaica says it received 300 bids valued at $54.53 billion for the $48 billion Certificate of Deposit it auctioned on Tuesday.
The 30-day instrument has an interest rate of 6.5% per annum.
But the bank says it only accepted 278 bids valued at the $48 billion it was seeking to raise.
The average yield for these successful bids was 6.4%.
The lowest successful bid was for $500 million at 5.95% per annum, while the highest successful bid was for $250 million at 7.99% per annum.
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