Money Market

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

Liquidity in the conventional system declined to RM28.23 billion from RM37.19 billion in the morning, while in the Islamic system, it fell to RM13.61 billion from RM19.38 billion previously.

Earlier, the central bank called for three conventional money market tenders, an Islamic range maturity auction (iRMA) Qard tender and a Commodity Murabahah Programme (CMP) tender.

At 4 pm, BNM called for a RM28.2 billion conventional money market tender and a RM13.6 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 threeweek rates stood at 1.78 per cent, 1.81 per cent and 1.85 per cent respectively.