Money Market

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

The liquidity in the conventional system declined to RM37.5 billion from RM44.43 billion in the morning, while in the Islamic system, it fell to RM11.6 billion from RM13.05 billion.

Earlier yesterday, BNM conducted a a range maturity auction money market tender and a Qard tender.

At 4 pm, the central bank called for a RM37.5 billion conventional money market tender and a RM11.6 billion Murabahah money market tender, both for one-day money.

The average Islamic overnight interest rate stood at 1.73 per cent, while the one-, two- and threeweek rates stood at 1.78 per cent, 1.81 per cent and 1.86 per cent, respectively.