The move comes to prevent speculations, absorb the excess liquidity from local banks, and avoid inflation in prices.

The new CDs will be divided into two tranches-Five-year CDs with a rate of 7.2 percent, and seven-year CDs with a yield of 7.9 percent, and another with a variable rate of 6.5 percent.

Last week, the Central Bank resumed selling CDs after eight months of halting issuance of the securities; it sold $233 million of CDs on March 4 receiving bids seven times the size of the issue.

Interest rates on five year CDs dropped ten basis points from 7.3 percent last week while fixed interest rates on seven years CDs fell ten basis points from eight percent.

The issue will close on Thursday, March 11.