MONEY MARKET

SHORT-TERM interbank rates closed stable yesterday following Bank Negara Malaysia’s (BNM) operations to reduce excess liquidity from the financial system.

The surplus in the conventional system fell to RM26.53 billion from RM35.33 billion in the morning, while in the Islamic system, it declined to RM14.73 billion from RM15.27 billion previously.

Earlier, BNM conducted three conventional money market tenders, an Islamic range maturity auction (iRMA) Qard tender, a repo tender and a Commodity Murabahah Programme (CMP) tender.

At 4pm, the central bank conducted a RM26.5 billion conventional money market tender and a RM13.9 billion Murabahah money market tender, both for one-day money.