Jamaica’s Ministry of Finance newest office building
Treasury bill rates declined to the lowest level on record, in the latest auction of bills on Wednesday this week. Information out of the country’s central bank in March indicates that there are no records with lower rates.
Rates for the $700 million 182 days instrument on offer fell below 3 percent for the first time with the average ending at just 2.979 percent and the 91 days bill ended at an average slightly above 2.818 percent for the $700 million that was also on offer for the shorter duration.
A total of $2.56 billion chased after the amount offered for the shorter dated issue, while a total of $2.92 billion chased the amount for the longer dated issue.
In March, rates fell to 2.977 percent for the 91 days bill, as $2.54 billion went after $600 million offered and the 192 days closed at an average of 3.172 percent with $2.48 billion going after $600 million offered.
