Short-term rates close stable on BNM's operations

KUALA LUMPUR: Short-term interbank rates closed stable today on Bank Negara Malaysia's (BNM) operations to absorb surplus liquidity from the financial system.

The liquidity in the conventional system eased to RM37.25 billion from RM37.45 billion this morning, while in the Islamic system, it fell to RM20.02 billion from RM25.40 billion previously.

Earlier today, BNM conducted a conventional money market tender and two Qard tenders

BNM had also revised the conventional overnight tender to RM36.5 billion from RM35.5 billion previously.

At 4 pm, the central bank called for a RM36.5 billion conventional money market tender and a RM20.0 billion Murabahah money market tender, both for one-day money.

The average Islamic overnight interest rate stood at 1.72 per cent, while the one-, two- and three-week rates stood at 1.78 per cent, 1.81 per cent, and 1.85 per cent, respectively.

-- BERNAMA