The Bank of Jamaica says it received 262 applications valued at $47.64 billion for the $37 billion it was seeking from the 6.75% per annum certificate of deposit floated on Tuesday.
The bank accepted only 222 of these bids valued at $37 billion at an average yield of 6.67% per annum.
The lowest bid was for $4.51 billion at 6% per annum, while the highest bid was for $500 million at 10% per annum.
The total amount of certificates of deposit outstanding now totals $141 billion or 4.29% of GDP, which is projected at $3.289 trillion this fiscal year.
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